Salesforce (NYSE:CRM) Shares Up 0.9% – Time to Buy?

Salesforce, Inc. (NYSE:CRM)’s share price traded up 0.9% on Tuesday . The company traded as high as $290.45 and last traded at $288.46. 1,203,647 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 6,386,093 shares. The stock had previously closed at $285.96.

Analyst Ratings Changes

A number of analysts have weighed in on CRM shares. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. Royal Bank of Canada upped their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. DA Davidson cut their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Performance

The firm has a market cap of $267.04 billion, a P/E ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35. 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’s 50-day moving average is $311.35 and its two-hundred day moving average is $310.74.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 708 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the transaction, the chief operating officer now owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction 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 owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,875 shares of company stock valued at $13,580,649 over the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

Several hedge funds have recently added to or reduced their stakes in CRM. Nvest Financial LLC raised its holdings in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD raised its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the period. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the 4th 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 period. Finally, Prossimo Advisors LLC grew its position in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors 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.