Salesforce’s (CRM) Neutral Rating Reiterated at Macquarie

Macquarie reaffirmed their neutral rating on shares of Salesforce (NYSE:CRM) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $320.00 target price on the CRM provider’s stock.

Several other research firms also recently weighed in on CRM. Oppenheimer cut their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. UBS Group raised their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group upped their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Up 0.9 %

NYSE:CRM opened at $281.56 on Thursday. The firm has a market capitalization of $270.58 billion, a P/E ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce has a one year low of $212.00 and a one year high of $369.00. The company’s 50-day simple moving average is $313.51 and its 200 day simple moving average is $309.92.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,256 shares of company stock worth $19,692,357 in the last three months. 3.20% of the stock is owned by company insiders.

Institutional Trading of Salesforce

Large investors have recently made changes to their positions in the business. Nvest Financial LLC increased its stake in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares during the period. Sachetta LLC lifted its position in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC boosted its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors.

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.