Insider Buying: Salesforce, Inc. (NYSE:CRM) Director Buys $499,363.95 in Stock

Salesforce, Inc. (NYSE:CRM) Director Robin L. Washington bought 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Salesforce Trading Up 1.6 %

Shares of CRM stock opened at $292.05 on Thursday. The firm has a fifty day moving average of $325.91 and a 200-day moving average of $308.21. The stock has a market cap of $279.49 billion, a price-to-earnings ratio of 48.03, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. On average, equities research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CRM shares. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. DA Davidson cut their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, BMO Capital Markets decreased their target price on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.32.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently modified their holdings of CRM. Nvest Financial LLC grew its position in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after acquiring an additional 31 shares during the period. OMC Financial Services LTD boosted its stake in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC increased its position in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

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.