Sundeep G. Reddy Sells 186 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CAO Sundeep G. Reddy sold 186 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total transaction of $28,939.74. Following the transaction, the chief accounting officer now directly owns 1,273 shares in the company, valued at approximately $198,066.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Salesforce Stock Performance

Shares of CRM traded up $4.62 during mid-day trading on Monday, reaching $155.87. 19,810,055 shares of the company’s stock traded hands, compared to its average volume of 10,596,321. Salesforce, Inc. has a 12 month low of $126.34 and a 12 month high of $234.49. The stock has a market capitalization of $155.87 billion, a P/E ratio of 556.68, a price-to-earnings-growth ratio of 3.79 and a beta of 1.15. The business’s 50-day moving average price is $141.29 and its 200-day moving average price is $155.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05.

Salesforce (NYSE:CRMGet Rating) last announced its earnings results on Wednesday, November 30th. The CRM provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.15. The firm had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.83 billion. Salesforce had a return on equity of 3.21% and a net margin of 0.92%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Equities analysts predict that Salesforce, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI dropped their price target on shares of Salesforce from $225.00 to $200.00 in a research report on Monday, November 28th. JPMorgan Chase & Co. cut their target price on Salesforce from $245.00 to $200.00 in a research report on Thursday, December 1st. Royal Bank of Canada dropped their price target on Salesforce from $235.00 to $200.00 in a research note on Thursday, December 1st. Wells Fargo & Company reduced their price objective on Salesforce from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, December 1st. Finally, Northland Securities initiated coverage on shares of Salesforce in a research report on Monday, October 17th. They set a “market perform” rating and a $150.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $189.81.

Hedge Funds Weigh In On Salesforce

Several large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Salesforce by 40.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 46,707,038 shares of the CRM provider’s stock valued at $7,708,529,000 after acquiring an additional 13,483,854 shares in the last quarter. Public Investment Fund bought a new position in Salesforce during the 2nd quarter valued at $437,393,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Salesforce by 114.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,881,056 shares of the CRM provider’s stock worth $640,566,000 after buying an additional 2,074,938 shares in the last quarter. PointState Capital LP acquired a new stake in shares of Salesforce in the third quarter valued at $181,700,000. Finally, Polen Capital Management LLC boosted its stake in Salesforce by 12.5% during the third quarter. Polen Capital Management LLC now owns 11,057,687 shares of the CRM provider’s stock valued at $1,590,538,000 after buying an additional 1,228,763 shares in the last quarter. Institutional investors and hedge funds own 75.83% of the company’s stock.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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