Vetr upgraded shares of salesforce.com (NYSE:CRM) from a sell rating to a hold rating in a research note released on Thursday morning. Vetr currently has $130.00 target price on the CRM provider’s stock.
Several other analysts have also recently weighed in on CRM. Robert W. Baird reaffirmed a buy rating on shares of salesforce.com in a report on Thursday, March 1st. JMP Securities raised their price target on salesforce.com from $125.00 to $126.00 and gave the company a market outperform rating in a report on Thursday, March 1st. JPMorgan Chase & Co. raised their price target on salesforce.com to $130.00 and gave the company an overweight rating in a report on Thursday, March 1st. Guggenheim reaffirmed a buy rating and issued a $128.00 price target on shares of salesforce.com in a report on Thursday, January 11th. Finally, TheStreet upgraded salesforce.com from a c rating to a b- rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-four have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $122.77.
Shares of salesforce.com (NYSE CRM) opened at $127.41 on Thursday. salesforce.com has a 1-year low of $80.50 and a 1-year high of $127.50. The firm has a market capitalization of $92,028.24, a PE ratio of 749.51, a price-to-earnings-growth ratio of 5.86 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 0.92 and a debt-to-equity ratio of 0.07.
In other news, insider Parker Harris sold 1,750 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $123.00, for a total value of $215,250.00. Following the completion of the transaction, the insider now owns 18,157 shares in the company, valued at approximately $2,233,311. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Marc Benioff sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $125.03, for a total value of $625,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,337 shares of company stock valued at $31,729,390. 6.20% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Egerton Capital UK LLP purchased a new position in shares of salesforce.com in the 4th quarter valued at approximately $294,547,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of salesforce.com by 323.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,568,872 shares of the CRM provider’s stock valued at $364,846,000 after purchasing an additional 2,725,972 shares during the period. Tybourne Capital Management HK Ltd. lifted its stake in shares of salesforce.com by 27.8% in the 4th quarter. Tybourne Capital Management HK Ltd. now owns 4,346,500 shares of the CRM provider’s stock valued at $444,343,000 after purchasing an additional 945,000 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of salesforce.com in the 4th quarter valued at approximately $83,414,000. Finally, Janus Henderson Group PLC lifted its stake in shares of salesforce.com by 5.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,435,212 shares of the CRM provider’s stock valued at $1,255,082,000 after purchasing an additional 675,471 shares during the period. Institutional investors own 85.82% of the company’s stock.
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salesforce.com Company Profile
Salesforce.com, Inc is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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