Salesforce (NYSE:CRM) Trading Down 0.2% – Time to Sell?

Shares of Salesforce, Inc. (NYSE:CRM) fell 0.2% during trading on Friday . The stock traded as low as $274.05 and last traded at $278.58. 1,734,962 shares traded hands during trading, a decline of 73% from the average session volume of 6,342,629 shares. The stock had previously closed at $279.03.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRM. Stephens began coverage on shares of Salesforce in a research report on Wednesday. They set an “equal weight” rating and a $311.00 price target on the stock. Macquarie reaffirmed a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Northland Securities reiterated an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Trading Up 0.9 %

The stock has a market capitalization of $270.58 billion, a PE ratio of 46.31, a PEG ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average is $313.51 and its two-hundred day moving average is $309.92.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This represents a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares of the company’s stock, valued at $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,256 shares of company stock valued at $19,692,357 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. United Bank raised its holdings in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after purchasing an additional 76 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Salesforce by 40.1% during the third quarter. Eagle Asset Management Inc. now owns 75,295 shares of the CRM provider’s stock worth $20,609,000 after purchasing an additional 21,540 shares in the last quarter. Biltmore Family Office LLC purchased a new position in Salesforce during the third quarter worth about $204,000. Allen Capital Group LLC raised its holdings in Salesforce by 25.1% during the third quarter. Allen Capital Group LLC now owns 1,022 shares of the CRM provider’s stock worth $280,000 after purchasing an additional 205 shares in the last quarter. Finally, Nwam LLC purchased a new position in Salesforce during the third quarter worth about $1,152,000. 80.43% of the stock is owned by hedge funds and other 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.