Salesforce (NYSE:CRM) Shares Down 0.2% – What’s Next?

Salesforce, Inc. (NYSE:CRM) traded down 0.2% on Friday . The stock traded as low as $274.05 and last traded at $278.58. 1,734,962 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 6,342,629 shares. The stock had previously closed at $279.03.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. One 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, Salesforce has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Trading Up 0.4 %

The business has a 50 day moving average of $314.23 and a two-hundred day moving average of $309.29. 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 firm has a market capitalization of $269.27 billion, a price-to-earnings ratio of 46.14, a P/E/G ratio of 2.58 and a beta of 1.35.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 942 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,256 shares of company stock valued at $19,692,357 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently modified their holdings of the business. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter valued at $25,000. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter worth $27,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth $27,000. Arlington Trust Co LLC boosted its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Finally, Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter worth $30,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.