Salesforce (NYSE:CRM) Shares Up 0.7%

Salesforce, Inc. (NYSE:CRMGet Free Report) shares rose 0.7% on Wednesday . The company traded as high as $287.09 and last traded at $285.75. Approximately 721,606 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 5,284,167 shares. The stock had previously closed at $283.76.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRM shares. JMP Securities reiterated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th. Jefferies Financial Group increased their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. UBS Group raised their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Evercore ISI raised their target price on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $310.61.

View Our Latest Analysis on Salesforce

Salesforce Price Performance

The firm has a fifty day moving average of $288.30 and a 200 day moving average of $273.61. The company has a market capitalization of $274.31 billion, a P/E ratio of 68.04, a P/E/G ratio of 2.21 and a beta of 1.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s payout ratio is 9.52%.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $286.90, for a total value of $4,303,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,512,327 shares in the company, valued at approximately $3,589,786,616.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $286.90, for a total transaction of $4,303,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,512,327 shares in the company, valued at approximately $3,589,786,616.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 640,499 shares of company stock worth $186,305,734 in the last three months. 3.20% of the stock is owned by company insiders.

Institutional Trading of Salesforce

A number of institutional investors have recently bought and sold shares of CRM. Bear Mountain Capital Inc. bought a new stake in Salesforce in the fourth quarter worth $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce in the fourth quarter worth $26,000. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in Salesforce in the fourth quarter worth $31,000. Finally, Pacifica Partners Inc. increased its stake in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. 80.43% of the stock is currently owned by institutional investors.

About Salesforce

(Get Free Report)

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.

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