Salesforce (NYSE:CRM) Stock Price Up 0% – Should You Buy?

by · The Cerbat Gem

Salesforce, Inc. (NYSE:CRM – Get Free Report)’s stock price rose 0% during trading on Wednesday . The stock traded as high as $281.30 and last traded at $278.80. Approximately 946,490 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 6,334,868 shares. The stock had previously closed at $278.73.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. UBS Group upped their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Macquarie reaffirmed a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday. Finally, DA Davidson decreased their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Check Out Our Latest Stock Analysis on CRM

Salesforce Trading Down 0.9 %

The business’s 50 day moving average price is $314.23 and its 200-day moving average price is $309.29. The company has a market cap of $265.79 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,256 shares of company stock valued at $19,692,357. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

A number of hedge funds and other institutional investors have recently made changes to their positions in CRM. State Street Corp increased its position in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after purchasing an additional 175,035 shares in the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Northern Trust Corp lifted its holdings in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after buying an additional 1,736,667 shares in the last quarter. Finally, Norges Bank bought a new position in Salesforce in the 4th quarter valued at $3,599,867,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

About Salesforce

(Get Free Report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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