Salesforce Inc. (NYSE:CRM – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the forty-eight analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have issued a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $267.1250.
Several research firms have commented on CRM. BTIG Research reaffirmed a “buy” rating and set a $300.00 price objective on shares of Salesforce in a research note on Wednesday, September 2nd. Phillip Securities downgraded shares of Salesforce from a “buy” rating to a “hold” rating and reduced their target price for the company from $253.00 to $166.00 in a research note on Monday, June 29th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Salesforce in a report on Thursday, August 27th. Finally, Mizuho increased their price objective on shares of Salesforce from $250.00 to $265.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th.
Get Our Latest Analysis on CRM
Insider Buying and Selling at Salesforce
- Salesforce Looks Overbought, But the Rally May Be Far From Over
In related news, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the sale, the director directly owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. This trade represents a 45.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.
Hedge Funds Weigh In On Salesforce
Several hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System increased its position in Salesforce by 13,260.5% in the 2nd quarter. California State Teachers Retirement System now owns 188,085,056 shares of the CRM provider’s stock valued at $29,465,405,000 after acquiring an additional 186,677,290 shares during the period. BlackRock Inc. acquired a new stake in Salesforce during the 2nd quarter worth approximately $11,396,844,000. State Street Corp lifted its position in Salesforce by 1.3% during the 4th quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock worth $13,286,909,000 after acquiring an additional 659,573 shares during the period. Capital International Investors grew its stake in shares of Salesforce by 13.3% in the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock valued at $6,019,199,000 after purchasing an additional 2,669,891 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Salesforce by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock valued at $5,751,073,000 after purchasing an additional 791,345 shares during the period. Institutional investors own 80.43% of the company’s stock.
Salesforce Trading Up 4.7%
- The SaaSpocalypse Trade Is Cracking, and These 5 Stocks Are Leading Higher
Shares of NYSE CRM opened at $259.29 on Tuesday. Salesforce has a 1-year low of $146.32 and a 1-year high of $269.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50 day moving average is $202.41 and its two-hundred day moving average is $187.76. The stock has a market capitalization of $213.40 billion, a P/E ratio of 23.64, a PEG ratio of 1.13 and a beta of 1.20.
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