Salesforce (NYSE:CRM) Trading Up 1.1% – Still a Buy?

Salesforce, Inc. (NYSE:CRM) shares were up 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 trading, a decline of 82% from the average daily volume of 6,342,434 shares. The stock had previously closed at $279.39.

Analyst Ratings Changes

CRM has been the topic of several analyst reports. UBS Group upped their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Stephens assumed coverage on shares of Salesforce in a report on Wednesday. They set an “equal weight” rating and a $311.00 price target for the company. Scotiabank decreased their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday. Finally, Northland Securities reiterated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. One 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock 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 has a market cap of $267.77 billion, a PE ratio of 45.80, a PEG ratio of 2.58 and a beta of 1.35. The business’s 50-day moving average is $315.19 and its 200 day moving average is $309.50.

Insider Transactions at Salesforce

In other news, Director G Mason Morfit sold 15,353 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $340.55, for a total value of $5,228,464.15. Following the completion of the sale, the director now directly owns 2,898,509 shares of the company’s stock, valued at approximately $987,087,239.95. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,609 shares of company stock worth $24,920,821. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in the business. M1 Capital Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth $347,000. DSG Capital Advisors LLC purchased a new stake in Salesforce during the 4th quarter valued at $3,237,000. 111 Capital bought a new position in shares of Salesforce during the 4th quarter valued at $1,808,000. NorthCrest Asset Manangement LLC boosted its stake in shares of Salesforce by 0.6% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 99,770 shares of the CRM provider’s stock worth $33,356,000 after buying an additional 604 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Salesforce in the fourth quarter worth $118,113,000. 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.