Salesforce (NYSE:CRM) Shares Up 0.4% - Should You Buy?

Shares of Salesforce, Inc. (NYSE:CRM - Get Free Report) were up 0.4% on Tuesday . The stock traded as high as $273.90 and last traded at $273.71. Approximately 1,462,623 shares were traded during trading, a decline of 78% from the average daily volume of 6,799,908 shares. The stock had previously closed at $272.63.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley cut their price target on Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Friday, April 25th. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and upped their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $350.56.

Salesforce Price Performance

The stock has a market capitalization of $264.75 billion, a price-to-earnings ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $267.33 and a 200 day simple moving average of $307.22.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given 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 dividend on an annualized basis and a yield of 0.61%. Salesforce's payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This trade represents a 14.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock valued at $12,907,361 in the last quarter. Company insiders own 3.20% of the company's stock.

Institutional Trading of Salesforce

A number of institutional investors have recently added to or reduced their stakes in CRM. Regent Peak Wealth Advisors LLC boosted its stake in shares of Salesforce by 3.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider's stock worth $818,000 after acquiring an additional 84 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in Salesforce by 2.2% in the 4th quarter. Fortitude Family Office LLC now owns 2,603 shares of the CRM provider's stock worth $870,000 after purchasing an additional 55 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its position in Salesforce by 5.2% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 4,201 shares of the CRM provider's stock worth $1,405,000 after purchasing an additional 208 shares during the period. ORG Partners LLC grew its holdings in Salesforce by 5.4% during the fourth quarter. ORG Partners LLC now owns 3,692 shares of the CRM provider's stock valued at $1,235,000 after purchasing an additional 189 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its position in shares of Salesforce by 0.3% in the fourth quarter. ST Germain D J Co. Inc. now owns 22,676 shares of the CRM provider's stock valued at $7,581,000 after purchasing an additional 57 shares during the period. 80.43% of the stock is currently 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.