Srinivas Tallapragada Sells 942 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now owns 22,154 shares of the company’s stock, valued at $5,368,357.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Salesforce Price Performance

CRM stock opened at $239.84 on Tuesday. The firm has a 50 day moving average price of $261.81 and a 200-day moving average price of $276.63. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a market capitalization of $232.40 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 2.12 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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 the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the business earned $1.15 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRM. Wells Fargo & Company cut their target price on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Macquarie cut their target price on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. KeyCorp assumed coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Raymond James restated a “strong-buy” rating and set a $325.00 price target (down from $380.00) on shares of Salesforce in a research report on Thursday, May 30th. Finally, Argus upped their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently made changes to their positions in the company. Ruedi Wealth Management Inc. increased its position in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $26,000. Red Tortoise LLC bought a new stake in shares of Salesforce during the first quarter valued at approximately $33,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. Institutional investors own 80.43% of the company’s stock.

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.