Salesforce, Inc. (NYSE:CRM) Director Craig Conway Sells 6,000 Shares

Salesforce, Inc. (NYSE:CRM) Director Craig Conway sold 6,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total value of $1,437,840.00. Following the completion of the transaction, the director now owns 6,855 shares in the company, valued at $1,642,732.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Salesforce Price Performance

NYSE:CRM opened at $235.71 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $271.49 and its 200 day simple moving average is $276.86. The company has a market cap of $228.40 billion, a P/E ratio of 42.39, a P/E/G ratio of 2.12 and a beta of 1.25. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently bought and sold shares of CRM. Navellier & Associates Inc. acquired a new position in Salesforce during the third quarter worth approximately $878,000. First Heartland Consultants Inc. boosted its stake in shares of Salesforce by 11.5% in the third quarter. First Heartland Consultants Inc. now owns 1,506 shares of the CRM provider’s stock valued at $305,000 after buying an additional 155 shares during the period. Montag A & Associates Inc. lifted its stake in Salesforce by 25.8% during the third quarter. Montag A & Associates Inc. now owns 3,031 shares of the CRM provider’s stock worth $615,000 after purchasing an additional 622 shares during the last quarter. Rhumbline Advisers lifted its stake in Salesforce by 0.4% during the third quarter. Rhumbline Advisers now owns 1,845,890 shares of the CRM provider’s stock worth $374,309,000 after purchasing an additional 7,755 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Salesforce by 22.3% during the third quarter. William Blair Investment Management LLC now owns 1,224,691 shares of the CRM provider’s stock worth $248,343,000 after purchasing an additional 223,430 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CRM shares. Sanford C. Bernstein raised their price target on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Thursday, May 30th. BMO Capital Markets reduced their price target on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Finally, Bank of America lifted their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $292.79.

About Salesforce

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.