Salesforce (NYSE:CRM) Shares Up 0.1% - What's Next?

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s stock price shot up 0.1% during trading on Monday . The company traded as high as $276.17 and last traded at $275.24. 1,044,009 shares were traded during trading, a decline of 85% from the average session volume of 6,808,865 shares. The stock had previously closed at $275.08.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Macquarie reissued a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Oppenheimer dropped their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Piper Sandler lowered their price target on Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. Finally, Citigroup restated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $350.56.

Salesforce Stock Performance

The stock has a fifty day simple moving average of $269.34 and a 200-day simple moving average of $307.82. The stock has a market cap of $263.48 billion, a P/E ratio of 45.10, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $386,831.50. Following the sale, the chief accounting officer now directly owns 12,211 shares in the company, valued at approximately $3,097,442.26. The trade was a 11.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Miguel Milano sold 458 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares of the company's stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,330 shares of company stock valued at $12,769,861 in the last quarter. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its position in shares of Salesforce by 11.9% in the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock valued at $766,566,000 after buying an additional 243,008 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in Salesforce by 14.1% during the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock worth $5,252,000 after purchasing an additional 1,936 shares during the last quarter. Neville Rodie & Shaw Inc. boosted its holdings in shares of Salesforce by 4.2% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 53,311 shares of the CRM provider's stock valued at $17,823,000 after purchasing an additional 2,160 shares in the last quarter. Capital Market Strategies LLC bought a new position in shares of Salesforce in the 4th quarter valued at $230,000. Finally, Canandaigua National Bank & Trust Co. lifted its position in shares of Salesforce by 3.1% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 11,332 shares of the CRM provider's stock worth $3,789,000 after buying an additional 344 shares during the last quarter. 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.

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