Salesforce, Inc. (NYSE:CRM) Director Buys $499,808.19 in Stock

Salesforce, Inc. (NYSE:CRM) Director Oscar Munoz purchased 2,051 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were purchased at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the purchase, the director now directly owns 7,026 shares in the company, valued at $1,712,165.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Salesforce Stock Up 0.6 %

Shares of Salesforce stock opened at $243.10 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The business’s fifty day moving average price is $261.10 and its two-hundred day moving average price is $276.56. The company has a market capitalization of $235.56 billion, a P/E ratio of 43.73, a PEG ratio of 2.12 and a beta of 1.25.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Institutional Trading of Salesforce

Institutional investors have recently made changes to their positions in the stock. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $26,000. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce in the 4th quarter worth approximately $31,000. Finally, Pacifica Partners Inc. raised its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRM. TD Cowen dropped their target price on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Stifel Nicolaus reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Barclays dropped their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Thursday, May 30th. Finally, Mizuho decreased their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.79.

About Salesforce

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.