Salesforce (NYSE:CRM) Stock Price Up 1.9%

Shares of Salesforce, Inc. (NYSE:CRMGet Free Report) rose 1.9% during trading on Thursday . The company traded as high as $261.22 and last traded at $260.95. Approximately 4,755,729 shares were traded during trading, a decline of 47% from the average daily volume of 9,006,645 shares. The stock had previously closed at $256.19.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Oppenheimer dropped their price target on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. TD Cowen reduced their price target on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $300.00 price target (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $292.79.

View Our Latest Research Report on CRM

Salesforce Trading Up 0.9 %

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 company’s 50 day moving average price is $258.26 and its two-hundred day moving average price is $276.21. The firm has a market cap of $255.06 billion, a PE ratio of 47.34, a P/E/G ratio of 2.29 and a beta of 1.29.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is 7.19%.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $302.03, for a total value of $4,530,450.00. Following the transaction, the chief executive officer now directly owns 12,936,166 shares in the company, valued at approximately $3,907,110,216.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, April 8th. The stock was sold at an average price of $302.03, for a total transaction of $4,530,450.00. Following the completion of the sale, the chief executive officer now directly owns 12,936,166 shares of the company’s stock, valued at approximately $3,907,110,216.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 484,152 shares of company stock valued at $131,779,561. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the fourth quarter worth $26,000. Ruedi Wealth Management Inc. increased its position in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce during the 4th quarter valued at $31,000. Finally, Pacifica Partners Inc. boosted its position in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

About Salesforce

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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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