Salesforce (NYSE:CRM) Stock Price Down 0.7%

Salesforce, Inc. (NYSE:CRMGet Free Report)’s share price dropped 0.7% on Tuesday . The stock traded as low as $234.70 and last traded at $234.89. Approximately 4,717,754 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 6,448,171 shares. The stock had previously closed at $236.62.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Robert W. Baird lowered their target price on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. TD Cowen decreased their price objective on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Sanford C. Bernstein lifted their target price on Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. Finally, Stifel Nicolaus decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $292.79.

View Our Latest Report on Salesforce

Salesforce Trading Up 0.7 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $277.69 and a two-hundred day moving average of $276.29. The stock has a market capitalization of $229.20 billion, a price-to-earnings ratio of 42.54, a price-to-earnings-growth ratio of 2.06 and a beta of 1.25.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the firm earned $1.15 EPS. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current year.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $304.97, for a total value of $4,574,550.00. Following the sale, the chief executive officer now directly owns 13,221,166 shares in the company, valued at approximately $4,032,058,995.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, Director G Mason Morfit bought 428,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the completion of the purchase, the director now directly owns 3,914,309 shares in the company, valued at approximately $912,699,429.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $304.97, for a total transaction of $4,574,550.00. Following the transaction, the chief executive officer now owns 13,221,166 shares of the company’s stock, valued at approximately $4,032,058,995.02. The disclosure for this sale can be found here. Insiders have sold a total of 640,870 shares of company stock valued at $182,545,398 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Objective Capital Management LLC increased its stake in shares of Salesforce by 10.7% in the first quarter. Objective Capital Management LLC now owns 1,035 shares of the CRM provider’s stock valued at $312,000 after buying an additional 100 shares in the last quarter. Maxwell Wealth Strategies Inc. increased its position in Salesforce by 569.1% in the 1st quarter. Maxwell Wealth Strategies Inc. now owns 9,448 shares of the CRM provider’s stock valued at $2,846,000 after acquiring an additional 8,036 shares in the last quarter. Motiv8 Investments LLC raised its stake in shares of Salesforce by 20.1% in the first quarter. Motiv8 Investments LLC now owns 2,448 shares of the CRM provider’s stock worth $737,000 after acquiring an additional 409 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Salesforce by 7.1% during the first quarter. Cetera Advisor Networks LLC now owns 132,020 shares of the CRM provider’s stock valued at $39,762,000 after purchasing an additional 8,730 shares during the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of Salesforce by 27.1% in the first quarter. Cetera Advisors LLC now owns 131,076 shares of the CRM provider’s stock valued at $39,477,000 after purchasing an additional 27,976 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

About Salesforce

(Get Free Report)

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.

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