Salesforce (NYSE:CRM) Stock Price Up 0.4% - Here's What Happened

Shares of Salesforce, Inc. (NYSE:CRM - Get Free Report) were up 0.4% on Thursday . The stock traded as high as $281.00 and last traded at $279.23. Approximately 833,754 shares were traded during trading, a decline of 88% from the average daily volume of 6,804,173 shares. The stock had previously closed at $278.23.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CRM shares. Stephens started coverage on Salesforce in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective for the company. Canaccord Genuity Group reduced their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Wells Fargo & Company reduced their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Oppenheimer reduced their price target on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given 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 currently has an average rating of "Moderate Buy" and a consensus price target of $350.56.

Salesforce Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $277.48 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a fifty day moving average of $267.33 and a two-hundred day moving average of $307.36.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.58%. Salesforce's payout ratio is presently 26.10%.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 1,256 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $318,157.36. Following the completion of the transaction, the chief accounting officer now directly owns 12,826 shares in the company, valued at $3,248,954.06. This represents a 8.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter valued at about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the 4th quarter worth approximately $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter worth approximately $30,000. Finally, Capital A Wealth Management LLC increased its holdings in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after purchasing an additional 90 shares in the last quarter. 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.