salesforce.com (NYSE:CRM) had its price target upped by Morgan Stanley from $216.00 to $225.00 in a report released on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the CRM provider’s stock.
A number of other equities analysts also recently commented on the stock. Roth Capital restated a neutral rating on shares of salesforce.com in a research note on Wednesday, December 4th. Robert W. Baird restated a buy rating and set a $185.00 price objective on shares of salesforce.com in a research note on Thursday, November 21st. Oppenheimer raised their target price on shares of salesforce.com from $190.00 to $205.00 and gave the company an outperform rating in a research note on Friday, January 17th. Jefferies Financial Group reiterated a buy rating and issued a $195.00 target price (up from $171.00) on shares of salesforce.com in a research note on Sunday, November 17th. Finally, Credit Suisse Group raised their target price on shares of salesforce.com from $185.00 to $215.00 and gave the company an outperform rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. salesforce.com has a consensus rating of Buy and an average target price of $195.49.
salesforce.com stock opened at $189.95 on Tuesday. The firm has a 50-day moving average of $179.08 and a 200-day moving average of $160.13. salesforce.com has a one year low of $137.87 and a one year high of $192.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $168.49 billion, a price-to-earnings ratio of 202.07, a P/E/G ratio of 8.09 and a beta of 1.19.
In other salesforce.com news, CAO Joe Allanson sold 323 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $162.57, for a total value of $52,510.11. Following the transaction, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $5,055,927. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan Wojcicki purchased 1,100 shares of the stock in a transaction on Wednesday, February 12th. The stock was bought at an average cost of $189.36 per share, for a total transaction of $208,296.00. Following the completion of the acquisition, the director now owns 101,870 shares in the company, valued at $19,290,103.20. The disclosure for this purchase can be found here. Over the last three months, insiders sold 470,128 shares of company stock worth $79,779,248. Insiders own 5.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd increased its holdings in shares of salesforce.com by 26.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 8,575 shares of the CRM provider’s stock worth $1,395,000 after purchasing an additional 1,800 shares during the period. Sculptor Capital LP bought a new position in shares of salesforce.com during the fourth quarter worth approximately $134,088,000. Captrust Financial Advisors increased its holdings in shares of salesforce.com by 1,632.7% during the fourth quarter. Captrust Financial Advisors now owns 162,753 shares of the CRM provider’s stock worth $27,178,000 after purchasing an additional 153,360 shares during the period. Bluefin Trading LLC increased its holdings in shares of salesforce.com by 103.3% during the fourth quarter. Bluefin Trading LLC now owns 34,064 shares of the CRM provider’s stock worth $5,540,000 after purchasing an additional 17,312 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in shares of salesforce.com during the fourth quarter worth approximately $394,000. 80.45% of the stock is currently owned by institutional investors.
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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