Salesforce’s (CRM) Neutral Rating Reiterated at Macquarie

Salesforce (NYSE:CRM)‘s stock had its “neutral” rating reaffirmed by research analysts at Macquarie in a research report issued on Thursday,Benzinga reports. They currently have a $320.00 price objective on the CRM provider’s stock. Macquarie’s price target points to a potential upside of 14.67% from the company’s previous close.

Several other analysts have also recently issued reports on CRM. Morgan Stanley boosted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a report on Wednesday. Finally, Citigroup restated a “buy” rating on shares of Salesforce in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Down 0.1 %

Shares of NYSE CRM traded down $0.32 during trading on Thursday, hitting $279.07. 4,808,432 shares of the company traded hands, compared to its average volume of 6,356,178. Salesforce has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a 50-day moving average price of $315.19 and a 200-day moving average price of $309.50. The firm 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. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the 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 directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,609 shares of company stock worth $24,920,821. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter worth approximately $25,000. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC lifted its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $30,000. 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.