Salesforce (NYSE:CRM – Get Rating) had its target price increased by Piper Sandler from $171.00 to $230.00 in a report published on Thursday morning, The Fly reports. They currently have an overweight rating on the CRM provider’s stock.
Several other research analysts have also weighed in on the stock. Mizuho boosted their price objective on shares of Salesforce from $200.00 to $225.00 and gave the stock a buy rating in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of Salesforce from $200.00 to $185.00 in a research note on Monday, November 28th. Sanford C. Bernstein lowered shares of Salesforce from a market perform rating to an underperform rating and lowered their price objective for the stock from $134.00 to $119.00 in a research note on Wednesday, January 11th. Royal Bank of Canada boosted their price objective on shares of Salesforce from $165.00 to $225.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Raymond James boosted their price objective on shares of Salesforce from $200.00 to $240.00 and gave the stock a strong-buy rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $211.24.
Salesforce Stock Down 0.1 %
Shares of CRM stock opened at $186.43 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. Salesforce has a 1 year low of $126.34 and a 1 year high of $222.15. The firm’s fifty day moving average price is $156.87 and its two-hundred day moving average price is $153.37. The firm has a market capitalization of $186.43 billion, a P/E ratio of 887.80, a PEG ratio of 3.53 and a beta of 1.21.
Insider Activity
In other news, CEO Bret Steven Taylor sold 1,034 shares of the business’s stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $128.55, for a total value of $132,920.70. Following the completion of the transaction, the chief executive officer now directly owns 901,195 shares in the company, valued at approximately $115,848,617.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Bret Steven Taylor sold 1,034 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $128.55, for a total value of $132,920.70. Following the sale, the chief executive officer now directly owns 901,195 shares of the company’s stock, valued at approximately $115,848,617.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $128.55, for a total transaction of $118,780.20. Following the completion of the sale, the chief financial officer now directly owns 32,807 shares in the company, valued at $4,217,339.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,868 shares of company stock worth $4,560,558. 3.60% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Salesforce
Institutional investors have recently modified their holdings of the company. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in Salesforce by 506.1% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Salesforce by 113.4% during the third quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 110 shares in the last quarter. Capital Directions Investment Advisors LLC bought a new position in Salesforce during the fourth quarter worth $28,000. Financial Management Professionals Inc. boosted its stake in Salesforce by 365.2% during the fourth quarter. Financial Management Professionals Inc. now owns 214 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 168 shares in the last quarter. Finally, HBC Financial Services PLLC boosted its stake in Salesforce by 350.0% during the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock worth $39,000 after acquiring an additional 175 shares in the last quarter. 75.83% of the stock is owned by institutional investors.
About Salesforce
Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.
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