Salesforce (NYSE:CRM) Upgraded to Strong-Buy at Stephens

Stephens upgraded shares of Salesforce (NYSE:CRM - Free Report) to a strong-buy rating in a research report sent to investors on Tuesday, Marketbeat reports.

Other analysts have also issued research reports about the company. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Stifel Nicolaus reduced their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Macquarie reduced their price target on Salesforce from $370.00 to $320.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $362.74.

Salesforce Stock Up 0.9 %

Salesforce stock traded up $2.53 during mid-day trading on Tuesday, reaching $281.56. 9,798,917 shares of the company were exchanged, compared to its average volume of 6,385,139. The business has a fifty day moving average of $313.51 and a 200 day moving average of $310.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $270.58 billion, a P/E ratio of 46.31, a PEG 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.

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Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian Millham sold 16,487 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the transaction, the chief operating officer now directly owns 1,662 shares in the company, valued at $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,256 shares of company stock valued at $19,692,357 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Foundations Investment Advisors LLC lifted its stake in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after buying an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce in the 3rd quarter valued at about $1,215,000. Athena Investment Management acquired a new stake in Salesforce in the 4th quarter valued at about $236,000. Highland Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $4,321,000. Finally, Geode Capital Management LLC raised its holdings in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. 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.