Salesforce (NYSE:CRM) Trading Up 1.5% - Here's What Happened

Shares of Salesforce, Inc. (NYSE:CRM - Get Free Report) traded up 1.5% during trading on Monday . The stock traded as high as $286.76 and last traded at $284.92. 2,158,212 shares were traded during trading, a decline of 66% from the average session volume of 6,369,091 shares. The stock had previously closed at $280.62.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CRM shares. Truist Financial reissued a "buy" rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $362.74.

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Salesforce Price Performance

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 company's fifty day moving average price is $311.35 and its 200 day moving average price is $310.74. The firm has a market capitalization of $267.35 billion, a price-to-earnings ratio of 45.76, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Insider Transactions at Salesforce

In other news, CEO Brian Millham sold 3,937 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the sale, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This represents a 41.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 897 shares of the firm's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $15,534,090. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,875 shares of company stock worth $13,580,649. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. United Bank boosted its holdings in Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider's stock valued at $1,999,000 after acquiring an additional 76 shares during the period. Fernbridge Capital Management LP grew its holdings in Salesforce by 19.2% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,072,422 shares of the CRM provider's stock valued at $293,533,000 after buying an additional 172,534 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Salesforce by 130.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 431,492 shares of the CRM provider's stock worth $118,104,000 after buying an additional 244,420 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of Salesforce by 36.6% during the third quarter. CreativeOne Wealth LLC now owns 9,935 shares of the CRM provider's stock worth $2,719,000 after buying an additional 2,664 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in Salesforce in the third quarter valued at about $147,000. Hedge funds and other institutional investors 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.