Salesforce (NYSE:CRM) Earns Buy Rating from Westpark Capital

Salesforce (NYSE:CRM)‘s stock had its “buy” rating reaffirmed by investment analysts at Westpark Capital in a note issued to investors on Wednesday,Benzinga reports. They currently have a $320.00 target price on the CRM provider’s stock. Westpark Capital’s price objective indicates a potential upside of 15.55% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Stephens started coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective for the company. DA Davidson reissued an “underperform” rating and set a $200.00 target price on shares of Salesforce in a research report on Monday, April 21st. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group lowered their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $349.87.

Salesforce Price Performance

NYSE CRM opened at $276.93 on Wednesday. Salesforce has a 12-month low of $212.00 and a 12-month high of $369.00. The firm’s fifty day simple moving average is $268.29 and its two-hundred day simple moving average is $306.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $266.24 billion, a P/E ratio of 45.55, a P/E/G ratio of 2.58 and a beta of 1.42.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 3,273 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $931,430.34. Following the completion of the sale, the insider now directly owns 125,146 shares in the company, valued at $35,614,048.68. This represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is owned by insiders.

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in the stock. Tallon Kerry Patrick acquired a new stake in Salesforce during the fourth quarter worth about $236,000. Brighton Jones LLC grew its stake in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after buying an additional 3,102 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $104,173,000. Griffin Asset Management Inc. acquired a new position in Salesforce in the fourth quarter valued at approximately $229,000. Finally, Revolve Wealth Partners LLC lifted its holdings in Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after acquiring an additional 205 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.