Salesforce (NYSE:CRM) Stock Price Down 0.2% - Time to Sell?

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a research note on Wednesday. DA Davidson dropped their price objective on Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Scotiabank reduced their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Wedbush reissued an "outperform" rating and set a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Guggenheim reaffirmed a "sell" rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $362.74.

Salesforce Price Performance

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 firm has a market capitalization of $273.02 billion, a price-to-earnings ratio of 46.73, a P/E/G ratio of 2.58 and a beta of 1.35. The company's 50 day moving average is $313.51 and its 200-day moving average is $310.36.

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Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares of the company's stock, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,762 shares of company stock valued at $13,733,407 over the last three months. Insiders own 3.20% of the company's stock.

Institutional Trading of Salesforce

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the period. Geode Capital Management LLC raised its stake in Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Salesforce by 1.4% in 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 period. Northern Trust Corp grew its position in shares of Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Salesforce during the fourth quarter worth approximately $3,599,867,000. 80.43% of the stock is owned by institutional investors and hedge funds.

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.