Salesforce (NYSE:CRM) Stock Price Up 0.5% – Here’s What Happened

Salesforce, Inc. (NYSE:CRM) rose 0.5% during mid-day trading on Monday . The company traded as high as $336.60 and last traded at $334.62. Approximately 1,515,588 shares traded hands during trading, a decline of 56% from the average daily volume of 3,419,230 shares. The stock had previously closed at $332.90.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America boosted their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Morgan Stanley boosted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.39.

Salesforce Stock Down 1.5 %

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’s fifty day moving average price is $332.81 and its 200 day moving average price is $286.81. The stock has a market cap of $313.78 billion, a P/E ratio of 53.93, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,181,807.88. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,186,017 shares of company stock valued at $405,971,793. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Aviance Capital Partners LLC raised its holdings in Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares during the last quarter. EWA LLC raised its holdings in Salesforce by 1.7% in the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares during the last quarter. Umpqua Bank grew its stake in shares of Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the period. Principal Street Partners LLC grew its stake in shares of Salesforce by 1.0% in the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after acquiring an additional 34 shares during the period. Finally, Nvwm LLC grew its stake in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.