Salesforce (NYSE:CRM) Stock Price Down 0.2% Following Analyst Downgrade

Salesforce, Inc. (NYSE:CRM - Get Free Report) experienced a slight decline in its stock price, trading down 0.2% during mid-day trading on Monday. This drop follows a downgrade from Scotiabank, which reduced its price target for the stock from $400.00 to $345.00, although the firm still holds a sector outperform rating on the shares. During the trading session, Salesforce reached a low of $276.08 before recovering slightly to close at $278.82. Approximately 1,197,746 shares changed hands, reflecting an 83% decrease from the average daily volume of 7,014,678 shares. The stock had previously closed at $279.40.

• Salesforce: An Early AI Opportunity With Long-Term Potential

Subsequent reports from other equity research analysts have also emerged. Stifel Nicolaus cut its price objective for Salesforce from $425.00 to $375.00 while maintaining a "buy" rating in a report dated February 27th. Additionally, UBS Group raised its price target from $275.00 to $360.00 and issued a "neutral" rating on November 22nd. Goldman Sachs increased its target price from $360.00 to $400.00 while assigning a "buy" rating in a research report on December 4th. Bank of America, likewise, lowered its target from $440.00 to $400.00 but kept a "buy" rating on February 27th. Furthermore, Redburn Atlantic began coverage of Salesforce with a "buy" rating on February 19th. Out of this analysis, two analysts have given the stock a sell rating, five a hold rating, thirty-one have assigned a buy rating, and four have issued a strong buy rating. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" with an average target price of $364.14.

Get Our Latest Research Report on Salesforce

Insiders Place Their Bets

• 3 Earnings Swings Investors Can Still Ride for Growth Potential

In recent insider trading news, CEO Marc Benioff sold 317,105 shares of the company's stock on December 18th at an average price of $346.78, totaling approximately $109,965,671.90. After this transaction, Benioff retains ownership of 12,162,457 shares, valued at around $4.22 billion. This sale reflects a 2.54% reduction in his position. The sale was reported in a filing with the Securities & Exchange Commission.

In contrast, Director Robin L. Washington purchased 1,695 shares on February 28th for an average price of $294.61 per share, amounting to a total of about $499,363.95. Post-transaction, Washington's ownership in the company rose to 43,445 shares, valued at approximately $12.8 million, marking a 4.06% increase. Insiders have sold a total of 1,108,793 shares worth $383,156,227 in the past three months, with corporate insiders owning roughly 3.20% of the company’s stock.

Institutional Inflows and Outflows

Recently, various institutional investors and hedge funds have adjusted their positions in Salesforce. Lansforsakringar Fondforvaltning AB publ acquired a new stake worth about $118.1 million during the 4th quarter. Capstone Triton Financial Group LLC increased its stake by 0.8%, now owning 5,736 shares worth $1.9 million after acquiring an additional 47 shares. Mattson Financial Services LLC notably expanded its stake by an impressive 43,625.0%, now holding 3,498 shares valued at $1.17 million after a significant increase of 3,490 shares. Alpha Wealth Funds LLC also purchased a new stake worth $869,000, while IronOak Wealth LLC added shares valued at $1.27 million. Overall, institutional investors currently control about 80.43% of the stock.

Salesforce Trading Metrics

The current market capitalization of Salesforce stands at approximately $270.78 billion. The stock has a price-to-earnings (P/E) ratio of 46.34 and a P/E/G ratio of 2.58. Its volatility is reflected in its beta of 1.35, with a 50-day moving average price of $318.03 and a 200-day moving average price of $309.36. The company maintains a debt-to-equity ratio of 0.14, with both its current and quick ratios at 1.11.

Salesforce Company Overview

Salesforce, Inc. is a global leader in Customer Relationship Management (CRM) technology, connecting businesses with their customers. The company's offerings include services for data storage, lead tracking, opportunity forecasting, analytics-driven insights, and scalable customer support solutions.

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Investment Consideration

Before making any investment decisions regarding Salesforce, it is essential to consider comprehensive market insights. MarketBeat tracks the recommendations of top-rated analysts and recent research suggests that while Salesforce holds a Moderate Buy rating, there are five other stocks that might offer better investment opportunities.

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