Srinivas Tallapragada Sells 438 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM – Get Rating) insider Srinivas Tallapragada sold 438 shares of the firm’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 value of $68,148.42. Following the completion of the sale, the insider now owns 51,819 shares in the company, valued at $8,062,518.21. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Salesforce Stock Up 3.1 %

Shares of Salesforce stock traded up $4.62 on Monday, hitting $155.87. 19,810,055 shares of the company 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 company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The company has a market cap of $155.87 billion, a PE ratio of 556.68, a PEG ratio of 3.79 and a beta of 1.15. The company has a 50-day moving average price of $141.29 and a 200 day moving average price of $155.70.

Salesforce (NYSE:CRM – Get Rating) last issued its earnings results on Wednesday, November 30th. The CRM provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. Sanford C. Bernstein cut shares of Salesforce from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $134.00 to $119.00 in a research note on Wednesday, January 11th. Bank of America reduced their price target on shares of Salesforce from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, December 1st. BMO Capital Markets lowered their price objective on shares of Salesforce from $180.00 to $172.00 in a research note on Thursday, December 1st. Northland Securities assumed coverage on Salesforce in a research report on Monday, October 17th. They issued a “market perform” rating and a $150.00 target price for the company. Finally, Monness Crespi & Hardt cut Salesforce from a “buy” rating to a “neutral” rating in a research report on Thursday, November 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.81.

Institutional Investors Weigh In On Salesforce

Large investors have recently bought and sold shares of the business. Resonant Capital Advisors LLC bought a new position in shares of Salesforce in the 4th quarter valued at approximately $211,000. Meridian Wealth Advisors LLC raised its position in shares of Salesforce by 20.9% in the fourth quarter. Meridian Wealth Advisors LLC now owns 15,105 shares of the CRM provider’s stock valued at $2,003,000 after purchasing an additional 2,611 shares during the period. Alliance Wealth Advisors LLC lifted its stake in shares of Salesforce by 7.2% in the fourth quarter. Alliance Wealth Advisors LLC now owns 1,758 shares of the CRM provider’s stock worth $233,000 after buying an additional 118 shares during the last quarter. Timber Creek Capital Management LLC boosted its holdings in shares of Salesforce by 66.9% during the 4th quarter. Timber Creek Capital Management LLC now owns 24,980 shares of the CRM provider’s stock worth $3,312,000 after buying an additional 10,010 shares during the period. Finally, Catalyst Private Wealth LLC grew its stake in Salesforce by 43.7% in the 4th quarter. Catalyst Private Wealth LLC now owns 2,933 shares of the CRM provider’s stock valued at $389,000 after buying an additional 892 shares during the last quarter. 75.83% of the stock is currently owned by institutional investors.

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.