Salesforce (NYSE:CRM) Trading Up 0.8%

Salesforce, Inc. (NYSE:CRM) rose 0.8% on Thursday . The company traded as high as $272.10 and last traded at $270.76. Approximately 972,922 shares were traded during trading, a decline of 82% from the average daily volume of 5,552,939 shares. The stock had previously closed at $268.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CRM shares. Wells Fargo & Company boosted their target price on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upped their target price on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Argus lifted their price target on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Bank of America upped their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Trading Up 1.3 %

The stock has a market cap of $263.97 billion, a price-to-earnings ratio of 64.47, a PEG ratio of 2.07 and a beta of 1.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average is $295.04 and its two-hundred day moving average is $265.67.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $270.93, for a total value of $1,137,906.00. Following the sale, the insider now directly owns 115,762 shares in the company, valued at $31,363,398.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $274.79, for a total transaction of $4,121,850.00. Following the transaction, the chief executive officer now directly owns 12,737,327 shares of the company’s stock, valued at $3,500,090,086.33. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $270.93, for a total value of $1,137,906.00. Following the transaction, the insider now directly owns 115,762 shares in the company, valued at $31,363,398.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 614,993 shares of company stock worth $180,212,524. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently bought and sold shares of the stock. Adapt Wealth Advisors LLC purchased a new position in Salesforce during the 1st quarter valued at about $283,000. Magnolia Capital Advisors LLC grew its stake in Salesforce by 20.1% during the 1st quarter. Magnolia Capital Advisors LLC now owns 3,925 shares of the CRM provider’s stock valued at $1,182,000 after acquiring an additional 656 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC grew its stake in Salesforce by 19.7% during the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 924 shares of the CRM provider’s stock valued at $278,000 after acquiring an additional 152 shares in the last quarter. Wright Investors Service Inc. purchased a new position in Salesforce during the 1st quarter valued at about $1,872,000. Finally, Daiwa Securities Group Inc. grew its stake in Salesforce by 21.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 203,084 shares of the CRM provider’s stock valued at $61,165,000 after acquiring an additional 36,319 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

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.