Salesforce (NYSE:CRM) Stock Price Up 1.3% Following Insider Buying Activity

Salesforce, Inc. (NYSE:CRM) traded up 1.3% on Monday following insider buying activity. The company traded as high as $252.95 and last traded at $243.79. 4,787,045 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 6,685,936 shares. The stock had previously closed at $240.76.

Specifically, Director Oscar Munoz acquired 3,882 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the transaction, the director now directly owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

Several equities analysts have weighed in on CRM shares. Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Oppenheimer decreased their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. Jefferies Financial Group lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, BMO Capital Markets restated an “outperform” 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 issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Price Performance

The stock’s fifty day moving average is $302.46 and its 200-day moving average is $311.80. The stock has a market capitalization of $231.18 billion, a PE ratio of 39.60, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after buying an additional 175,035 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Northern Trust Corp increased its stake in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Norges Bank acquired a new stake in Salesforce during the fourth quarter worth about $3,599,867,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after buying an additional 1,683,233 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.