Macquarie Reiterates Neutral Rating for Salesforce (NYSE:CRM)

Macquarie reaffirmed their neutral rating on shares of Salesforce (NYSE:CRM - Free Report) in a research note released on Thursday morning,Benzinga reports. They currently have a $320.00 price objective on the CRM provider's stock.

CRM has been the subject of several other reports. Wedbush restated an "outperform" rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. JMP Securities restated a "market outperform" rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Stifel Nicolaus cut their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Northland Securities reiterated an "outperform" rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a report on Wednesday. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $362.74.

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Salesforce Price Performance

Shares of Salesforce stock traded up $2.53 during trading on Thursday, hitting $281.56. 9,798,917 shares of the company were exchanged, compared to its average volume of 6,385,139. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.31, a P/E/G ratio of 2.58 and a beta of 1.35. The firm has a 50 day moving average price of $313.51 and a 200 day moving average price of $309.92.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. This represents a 8.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 942 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,256 shares of company stock valued at $19,692,357 in the last ninety days. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC raised 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 raised its stake in shares of 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 in the last quarter. Northern Trust Corp raised its stake in Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Finally, Norges Bank acquired a new stake in Salesforce during the fourth quarter worth about $3,599,867,000. 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.