Salesforce, Inc. (NYSE:CRM) Director Oscar Munoz Buys 3,882 Shares

Salesforce, Inc. (NYSE:CRM - Get Free Report) Director Oscar Munoz acquired 3,882 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $257.28 per share, with a total value of $998,760.96. Following the purchase, the director now owns 11,843 shares in the company, valued at approximately $3,046,967.04. This represents a 48.76 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Salesforce Stock Down 5.9 %

Shares of NYSE:CRM traded down $14.97 during mid-day trading on Friday, reaching $240.26. 9,689,126 shares of the stock were exchanged, compared to its average volume of 6,691,770. The stock's 50 day simple moving average is $302.46 and its 200-day simple moving average is $311.39. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $230.89 billion, a P/E ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

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Institutional Trading of Salesforce

A number of institutional investors have recently made changes to their positions in CRM. Webster Bank N. A. lifted its position in Salesforce by 0.3% during the 1st quarter. Webster Bank N. A. now owns 23,212 shares of the CRM provider's stock worth $6,229,000 after buying an additional 73 shares in the last quarter. Agate Pass Investment Management LLC raised its holdings in Salesforce by 18.9% during the first quarter. Agate Pass Investment Management LLC now owns 8,585 shares of the CRM provider's stock worth $2,304,000 after acquiring an additional 1,364 shares in the last quarter. Versant Capital Management Inc boosted its position in Salesforce by 29.9% during the first quarter. Versant Capital Management Inc now owns 1,927 shares of the CRM provider's stock valued at $517,000 after purchasing an additional 444 shares during the last quarter. First Hawaiian Bank grew its stake in Salesforce by 6.3% in the first quarter. First Hawaiian Bank now owns 14,164 shares of the CRM provider's stock valued at $3,801,000 after purchasing an additional 838 shares in the last quarter. Finally, Boston Common Asset Management LLC increased its position in shares of Salesforce by 17.5% during the 1st quarter. Boston Common Asset Management LLC now owns 80,259 shares of the CRM provider's stock worth $21,538,000 after purchasing an additional 11,958 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CRM shares. Citigroup reissued a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company reduced their target price on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Macquarie reissued a "neutral" rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $361.42.

Salesforce Company Profile

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.