Neelie Kroes Sells 6,000 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM – Get Rating) Director Neelie Kroes sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $183.12, for a total transaction of $1,098,720.00. Following the completion of the transaction, the director now directly owns 8,254 shares in the company, valued at approximately $1,511,472.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Salesforce Stock Down 3.1 %

NYSE:CRM opened at $173.18 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 1.05. Salesforce, Inc. has a one year low of $126.34 and a one year high of $222.15. The firm’s 50 day simple moving average is $161.84 and its 200 day simple moving average is $153.29. The company has a market cap of $173.18 billion, a PE ratio of 824.71, a P/E/G ratio of 2.19 and a beta of 1.21.

Salesforce (NYSE:CRM – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.32. Salesforce had a net margin of 0.66% and a return on equity of 4.48%. The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $7.99 billion. During the same quarter last year, the business earned $0.24 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 4.88 earnings per share for the current year.

Salesforce declared that its board has initiated a stock repurchase program on Wednesday, March 1st that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the CRM provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on CRM. Oppenheimer raised their price target on shares of Salesforce from $185.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, March 2nd. Wedbush lifted their price target on shares of Salesforce from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, March 2nd. DA Davidson raised their price objective on shares of Salesforce from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, March 2nd. Cowen raised their price objective on shares of Salesforce from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Finally, Canaccord Genuity Group lifted their target price on shares of Salesforce from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.24.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRM. Verition Fund Management LLC increased its stake in shares of Salesforce by 1,014.8% in the 2nd quarter. Verition Fund Management LLC now owns 32,386 shares of the CRM provider’s stock valued at $5,345,000 after acquiring an additional 29,481 shares in the last quarter. Stephens Inc. AR increased its stake in Salesforce by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 137,757 shares of the CRM provider’s stock valued at $19,815,000 after purchasing an additional 656 shares in the last quarter. Archford Capital Strategies LLC increased its stake in Salesforce by 6.6% during the 3rd quarter. Archford Capital Strategies LLC now owns 4,736 shares of the CRM provider’s stock valued at $681,000 after purchasing an additional 295 shares in the last quarter. Personal Capital Advisors Corp increased its stake in Salesforce by 26.1% during the 3rd quarter. Personal Capital Advisors Corp now owns 490,626 shares of the CRM provider’s stock valued at $70,572,000 after purchasing an additional 101,463 shares in the last quarter. Finally, Atria Investments LLC increased its stake in Salesforce by 0.5% during the 2nd quarter. Atria Investments LLC now owns 80,140 shares of the CRM provider’s stock valued at $13,226,000 after purchasing an additional 383 shares in the last quarter. Institutional investors own 75.83% of the company’s stock.

Salesforce Company Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.