Jefferies Financial Group Has Lowered Expectations for Salesforce (NYSE:CRM) Stock Price

Salesforce (NYSE:CRM - Get Free Report) had its price objective decreased by stock analysts at Jefferies Financial Group from $425.00 to $375.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the CRM provider's stock. Jefferies Financial Group's price objective indicates a potential upside of 38.80% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. DA Davidson lowered their price target on shares of Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Morgan Stanley increased their price target on Salesforce from $330.00 to $405.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Stifel Nicolaus decreased their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Northland Securities reissued an "outperform" rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $361.42.

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Salesforce Trading Up 0.7 %

Salesforce stock traded up $1.82 during mid-day trading on Monday, hitting $270.18. The stock had a trading volume of 4,596,911 shares, compared to its average volume of 6,653,506. The stock has a 50-day simple moving average of $308.26 and a two-hundred day simple moving average of $311.67. 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 stock has a market capitalization of $259.64 billion, a PE ratio of 44.44, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce has a 12 month low of $212.00 and a 12 month high of $369.00.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the business'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 value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRM. State Street Corp raised its holdings in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock worth $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after purchasing an additional 175,035 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Northern Trust Corp boosted its position in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after buying an additional 1,736,667 shares in the last quarter. Finally, Norges Bank bought a new stake in Salesforce during the 4th quarter worth $3,599,867,000. Institutional investors own 80.43% of the company's stock.

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.