Salesforce (NYSE:CRM) Stock Price Up 1%

Salesforce, Inc. (NYSE:CRM) shares rose 1% on Friday . The company traded as high as $276.90 and last traded at $275.83. Approximately 990,573 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 5,627,529 shares. The stock had previously closed at $273.14.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CRM shares. Argus lifted their price target on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research report on Thursday, March 7th. Wells Fargo & Company upped their price target on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their price objective on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Oppenheimer upped their price target on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Stock Performance

The business has a 50 day simple moving average of $296.28 and a 200 day simple moving average of $263.44. 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 has a market capitalization of $265.98 billion, a PE ratio of 65.31, a PEG ratio of 2.12 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its 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. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. Equities research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the sale, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,827,327 shares of the company’s stock, valued at approximately $3,475,435,977.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 620,793 shares of company stock valued at $182,177,918. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce during the fourth quarter worth about $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce in the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the fourth quarter valued at about $31,000. Pacifica Partners Inc. lifted its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the period. Finally, Red Tortoise LLC bought a new stake in shares of Salesforce in the first quarter valued at about $33,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.