Salesforce (NYSE:CRM) Coverage Initiated by Analysts at Stephens

Stephens started coverage on shares of Salesforce (NYSE:CRM) in a report published on Wednesday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $311.00 target price on the CRM provider’s stock.

Several other analysts also recently weighed in on the company. UBS Group lifted their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer dropped their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a report on Friday, December 13th. Finally, Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Stock Performance

Salesforce stock opened at $281.56 on Wednesday. Salesforce has a 1-year low of $212.00 and a 1-year high of $369.00. The company’s 50-day moving average is $313.51 and its 200 day moving average is $309.49. The firm has a market capitalization of $270.58 billion, a P/E ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Insider Buying and Selling

In related news, COO Brian Millham sold 16,487 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the sale, the chief operating officer now directly owns 1,662 shares in the company, valued at approximately $566,210.16. This trade represents a 90.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,256 shares of company stock valued at $19,692,357. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the fourth quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC lifted its position in shares of 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 last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter worth about $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.