Salesforce (NYSE:CRM) Upgraded at Stephens

Stephens upgraded shares of Salesforce (NYSE:CRM) to a strong-buy rating in a research note published on Tuesday morning, MarketBeat Ratings reports.

CRM has been the subject of several other reports. Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Jefferies Financial Group raised their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Scotiabank dropped their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday. Finally, Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. One equities 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Price Performance

CRM opened at $279.07 on Tuesday. The firm has a market capitalization of $268.19 billion, a P/E ratio of 45.90, a PEG ratio of 2.58 and a beta of 1.35. The stock has a fifty day moving average of $314.23 and a 200-day moving average of $309.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce has a 12-month low of $212.00 and a 12-month high of $369.00.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s 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 sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robin L. Washington acquired 1,695 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. The trade was a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 60,256 shares of company stock valued at $19,692,357 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter valued at $25,000. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the fourth quarter worth about $27,000. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Compass Financial Services Inc acquired a new stake in Salesforce during the fourth quarter valued at approximately $30,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Company Profile

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.