Salesforce (NYSE:CRM) Shares Up 0.1% – Still a Buy?

Salesforce, Inc. (NYSE:CRM) shares were up 0.1% on Friday . The stock 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.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CRM shares. Redburn Atlantic started coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Morgan Stanley reduced their price target on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Piper Sandler cut their price objective on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird cut their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $352.62.

Salesforce Price Performance

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 $279.76 billion, a PE ratio of 47.86, a PEG ratio of 2.58 and a beta of 1.42. The stock’s 50-day moving average is $268.10 and its two-hundred day moving average is $307.10.

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 was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Buying and Selling

In related news, insider Miguel Milano sold 458 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the 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 transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,527 shares of company stock valued at $14,882,976. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prostatis Group LLC boosted its position in Salesforce by 7.0% in the 1st quarter. Prostatis Group LLC now owns 4,437 shares of the CRM provider’s stock valued at $1,191,000 after buying an additional 292 shares during the period. Semmax Financial Advisors Inc. boosted its position in Salesforce by 4.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 6,598 shares of the CRM provider’s stock valued at $1,817,000 after buying an additional 297 shares during the period. Empowered Funds LLC boosted its position in Salesforce by 22.6% in the 1st quarter. Empowered Funds LLC now owns 33,558 shares of the CRM provider’s stock valued at $9,006,000 after buying an additional 6,184 shares during the period. MBB Public Markets I LLC purchased a new position in Salesforce in the 1st quarter valued at approximately $302,000. Finally, Vancity Investment Management Ltd purchased a new position in Salesforce in the 1st quarter valued at approximately $334,000. Hedge funds and other institutional investors 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.