Salesforce (NYSE:CRM) Stock Price Up 1.2%

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares were up 1.2% during mid-day trading on Friday . The company traded as high as $277.67 and last traded at $275.26. Approximately 1,007,244 shares traded hands during trading, a decline of 82% from the average daily volume of 5,534,947 shares. The stock had previously closed at $272.13.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRM. Wedbush raised their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Argus lifted their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $350.00 price objective on shares of Salesforce in a report on Thursday, March 7th. KeyCorp began coverage on Salesforce in a report on Thursday, March 21st. They issued a "sector weight" rating for the company. Finally, Truist Financial reaffirmed a "buy" rating and issued a $360.00 price target (up previously 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 assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $310.61.

Salesforce Stock Performance

The firm's fifty day simple moving average is $294.61 and its 200 day simple moving average is $265.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $265.45 billion, a price-to-earnings ratio of 65.16, a PEG ratio of 2.07 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

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

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the transaction, the chief executive officer now directly owns 12,707,327 shares of the company's stock, valued at approximately $3,425,005,846.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the completion of the transaction, the chief executive officer now owns 12,707,327 shares of the company's stock, valued at approximately $3,425,005,846.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 629,993 shares of company stock worth $184,255,474. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. bought a new position in shares of Salesforce during the fourth quarter valued at $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the fourth quarter worth about $31,000. Pacifica Partners Inc. boosted its holdings 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 acquiring an additional 100 shares in the last quarter. Finally, Red Tortoise LLC bought a new stake in Salesforce during the 1st quarter worth approximately $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

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.

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