Salesforce (NYSE:CRM) Trading Up 0.4% – Here’s What Happened

by · The Cerbat Gem

Salesforce, Inc. (NYSE:CRM – Get Free Report) rose 0.4% during mid-day trading on Tuesday . The company traded as high as $269.31 and last traded at $269.41. Approximately 1,066,623 shares changed hands during trading, a decline of 84% from the average daily volume of 6,625,044 shares. The stock had previously closed at $268.36.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Northland Securities reiterated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Stephens assumed coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $361.42.

Check Out Our Latest Report on Salesforce

Salesforce Stock Up 0.7 %

The stock has a market capitalization of $261.45 billion, a price-to-earnings ratio of 44.75, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average is $305.91 and its two-hundred day moving average is $311.50.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

About Salesforce

(Get Free Report)

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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