salesforce.com (CRM) Stock Rating Reaffirmed by Wells Fargo & Co
Wells Fargo & Co reaffirmed their outperform rating on shares of salesforce.com (NYSE:CRM) in a report released on Thursday. Wells Fargo & Co currently has a $150.00 price objective on the CRM provider’s stock, up from their prior price objective of $130.00.
Other equities research analysts have also issued reports about the stock. Guggenheim reiterated a buy rating and issued a $128.00 price target on shares of salesforce.com in a research note on Thursday, January 11th. Cleveland Research began coverage on shares of salesforce.com in a research note on Wednesday, January 31st. They issued a buy rating on the stock. Mizuho lifted their price target on shares of salesforce.com from $120.00 to $140.00 and gave the company a buy rating in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of salesforce.com from $110.00 to $120.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Finally, BTIG Research lifted their price target on shares of salesforce.com to $120.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and forty-five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $121.20.
Shares of salesforce.com (CRM) opened at $121.92 on Thursday. salesforce.com has a twelve month low of $80.50 and a twelve month high of $122.47. The company has a current ratio of 0.92, a quick ratio of 0.82 and a debt-to-equity ratio of 0.07. The company has a market cap of $88,062.82, a price-to-earnings ratio of 717.22, a P/E/G ratio of 6.96 and a beta of 1.25.
In other salesforce.com news, insider Mark J. Hawkins sold 39,780 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $103.72, for a total value of $4,125,981.60. Following the completion of the sale, the insider now owns 58,719 shares of the company’s stock, valued at approximately $6,090,334.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marc Benioff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $120.20, for a total transaction of $601,000.00. The disclosure for this sale can be found here. Insiders sold a total of 276,444 shares of company stock valued at $30,262,857 in the last three months. Insiders own 6.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRM. Egerton Capital UK LLP bought a new stake in salesforce.com in the 4th quarter valued at about $294,547,000. Arrowstreet Capital Limited Partnership boosted its holdings in 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. raised its position 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 buying an additional 945,000 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of salesforce.com in the 4th quarter valued at approximately $83,414,000. Finally, Janus Henderson Group PLC raised its position 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 buying an additional 675,471 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.
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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