UBS Group Lowers Salesforce (NYSE:CRM) Price Target to $320.00

Salesforce (NYSE:CRM - Get Free Report) had its price target dropped by UBS Group from $340.00 to $320.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the CRM provider's stock. UBS Group's target price suggests a potential upside of 11.86% from the stock's current price.

CRM has been the topic of a number of other research reports. Westpark Capital reissued a "buy" rating and issued a $320.00 target price on shares of Salesforce in a research report on Wednesday, April 30th. Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Oppenheimer decreased their price objective on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $351.59.

Salesforce Trading Down 0.7%

Shares of CRM stock traded down $1.99 during trading on Wednesday, hitting $286.07. 804,251 shares of the stock traded hands, compared to its average volume of 6,865,699. The firm has a market capitalization of $275.03 billion, a P/E ratio of 47.05, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm's fifty day moving average price is $268.48 and its 200-day moving average price is $307.02. Salesforce has a 52-week low of $212.00 and a 52-week high of $369.00.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,306 shares of company stock worth $12,841,368 over the last ninety days. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new position in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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