Salesforce (NYSE:CRM) Shares Up 1.9% – Here’s What Happened

Salesforce, Inc. (NYSE:CRM)’s stock price was up 1.9% during trading on Friday . The company traded as high as $275.26 and last traded at $274.51. Approximately 1,170,784 shares changed hands during trading, a decline of 83% from the average daily volume of 6,865,282 shares. The stock had previously closed at $269.33.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Friday, April 25th. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Loop Capital decreased their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. DA Davidson restated an “underperform” rating and issued a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. Finally, Robert W. Baird dropped their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $350.56.

Salesforce Stock Performance

The stock has a fifty day moving average of $269.34 and a 200-day moving average of $307.58. The firm has a market capitalization of $264.58 billion, a P/E ratio of 45.26, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Transactions at Salesforce

In related news, CEO Brian Millham sold 979 shares of Salesforce stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $248,333.14. Following the sale, the chief executive officer now owns 6,487 shares of the company’s stock, valued at approximately $1,645,492.42. The trade was a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 458 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock valued at $15,027,714 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

Several large investors have recently made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at about $27,000. Arlington Trust Co LLC lifted its stake 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 purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in Salesforce during the fourth quarter worth about $30,000. Finally, Capital A Wealth Management LLC increased its position in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. 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.