Salesforce, Inc. (NYSE:CRM) Director Robin L. Washington Acquires 1,695 Shares

Salesforce, Inc. (NYSE:CRM) Director Robin L. Washington bought 1,695 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Salesforce Stock Up 1.6 %

Salesforce stock opened at $292.05 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a fifty day simple moving average of $325.91 and a 200 day simple moving average of $308.21. The company has a market cap of $279.49 billion, a P/E ratio of 48.03, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Citigroup reiterated a “cautious” rating on shares of Salesforce in a report on Thursday, February 27th. Finally, KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $365.32.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter valued at $25,000. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at $27,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at about $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth about $30,000. 80.43% of the stock is currently owned by institutional investors.

About Salesforce

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.