Salesforce (NYSE:CRM) Stock Price Up 0.1% - Time to Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares rose 0.1% during mid-day trading on Friday . The company traded as high as $291.51 and last traded at $291.15. Approximately 879,663 shares were traded during trading, a decline of 87% from the average daily volume of 6,850,282 shares. The stock had previously closed at $290.76.

Analysts Set New Price Targets

CRM has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Scotiabank dropped their price target on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Citigroup restated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Redburn Atlantic began coverage on Salesforce in a research note on Wednesday, February 19th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $352.62.

Salesforce Price Performance

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 stock has a 50-day simple moving average of $267.83 and a 200 day simple moving average of $307.08. The company has a market cap of $280.71 billion, a PE ratio of 47.99, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

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

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,527 shares of company stock valued at $14,882,976 in the last three months. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Raab & Moskowitz Asset Management LLC grew its holdings in Salesforce by 12.8% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 6,622 shares of the CRM provider's stock valued at $1,777,000 after buying an additional 753 shares during the last quarter. Redwood Financial Network Corp raised its position in shares of Salesforce by 7.1% in the 1st quarter. Redwood Financial Network Corp now owns 2,085 shares of the CRM provider's stock worth $560,000 after buying an additional 139 shares during the period. Rise Advisors LLC raised its position in shares of Salesforce by 6.5% in the 1st quarter. Rise Advisors LLC now owns 846 shares of the CRM provider's stock worth $227,000 after buying an additional 52 shares during the period. Samlyn Capital LLC purchased a new position in Salesforce in the first quarter valued at about $50,558,000. Finally, Petrus Trust Company LTA raised its position in Salesforce by 17.9% in the first quarter. Petrus Trust Company LTA now owns 179,772 shares of the CRM provider's stock valued at $48,244,000 after purchasing an additional 27,272 shares during the period. Institutional investors and hedge funds 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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