Salesforce (NYSE:CRM) Trading 0.1% Higher – Here’s What Happened

Salesforce, Inc. (NYSE:CRM)’s stock price shot up 0.1% on Friday . The company traded as high as $333.44 and last traded at $330.96. 725,261 shares were traded during trading, a decline of 73% from the average session volume of 2,714,350 shares. The stock had previously closed at $330.66.

Analysts Set New Price Targets

Several analysts have recently issued reports on CRM shares. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird boosted their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. TD Cowen increased their target price on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Finally, Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.86.

Salesforce Price Performance

The stock has a 50 day moving average of $331.96 and a two-hundred day moving average of $285.33. 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 stock has a market cap of $317.45 billion, a PE ratio of 54.56, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly 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). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS. Equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,186,017 shares of company stock valued at $405,971,793 over the last three months. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC bought a new position in shares of Salesforce during the 2nd quarter worth approximately $327,000. Founders Financial Securities LLC lifted its holdings in Salesforce by 7.6% in the second quarter. Founders Financial Securities LLC now owns 3,504 shares of the CRM provider’s stock valued at $901,000 after buying an additional 247 shares during the period. Larson Financial Group LLC boosted its stake in Salesforce by 202.7% in the second quarter. Larson Financial Group LLC now owns 3,081 shares of the CRM provider’s stock valued at $792,000 after acquiring an additional 2,063 shares during the last quarter. GPM Growth Investors Inc. acquired a new stake in Salesforce during the 2nd quarter worth $2,684,000. Finally, Pursue Wealth Partners LLC raised its position in shares of Salesforce by 29.9% during the 2nd quarter. Pursue Wealth Partners LLC now owns 3,780 shares of the CRM provider’s stock valued at $972,000 after acquiring an additional 871 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.