Salesforce (NYSE:CRM) Receives Neutral Rating from Macquarie

Macquarie restated their neutral rating on shares of Salesforce (NYSE:CRM) in a research report report published on Thursday morning,Benzinga reports. They currently have a $320.00 price objective on the CRM provider’s stock.

CRM has been the subject of several other research reports. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Northland Securities restated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday. Finally, Barclays upped their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Down 0.1 %

CRM stock opened at $279.07 on Thursday. Salesforce has a 1-year low of $212.00 and a 1-year high of $369.00. The business has a fifty day moving average price of $314.23 and a 200-day moving average price of $309.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $268.19 billion, a P/E ratio of 45.90, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction 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 directly owns 46,750 shares in the company, 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. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRM. United Bank increased its position in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Salesforce by 7.6% during the third quarter. PNC Financial Services Group Inc. now owns 238,067 shares of the CRM provider’s stock valued at $65,161,000 after acquiring an additional 16,724 shares during the last quarter. Howe & Rusling Inc. bought a new position in Salesforce during the third quarter valued at $283,000. Advisors Asset Management Inc. increased its position in Salesforce by 13.7% during the third quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider’s stock valued at $6,044,000 after acquiring an additional 2,665 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Salesforce by 1.0% in the third quarter. First Horizon Advisors Inc. now owns 18,830 shares of the CRM provider’s stock worth $5,154,000 after purchasing an additional 181 shares during the last quarter. Institutional investors 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.