Salesforce (NYSE:CRM) Stock Price Up 1.1% - Should You Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares rose 1.1% during mid-day trading on Thursday . The stock traded as high as $282.53 and last traded at $282.53. Approximately 1,153,049 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 6,342,434 shares. The stock had previously closed at $279.39.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRM shares. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. Morgan Stanley lifted their price target on Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Wells Fargo & Company cut their price objective on Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on Salesforce from $340.00 to $380.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $362.74.

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Salesforce Trading Up 0.9 %

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 business has a 50 day simple moving average of $313.51 and a 200-day simple moving average of $309.92. The stock has a market capitalization of $270.58 billion, a P/E ratio of 46.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction 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 sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,256 shares of company stock valued at $19,692,357 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

Large investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter valued at $25,000. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter worth about $27,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth about $27,000. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 80.43% of the company's stock.

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.