Salesforce (NYSE:CRM) Stock Price Up 0.2% - Here's What Happened

Salesforce, Inc. (NYSE:CRM - Get Free Report) was up 0.2% during trading on Wednesday . The stock traded as high as $354.77 and last traded at $351.38. Approximately 1,797,806 shares traded hands during trading, a decline of 72% from the average daily volume of 6,386,392 shares. The stock had previously closed at $350.57.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CRM shares. TD Cowen boosted their price objective on Salesforce from $290.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday, November 21st. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target on the stock in a report on Friday, December 13th. Wells Fargo & Company increased their price target on Salesforce from $275.00 to $330.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 12th. Finally, Wedbush reissued an "outperform" rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $378.86.

Salesforce Stock Down 3.9 %

The stock has a market capitalization of $322.73 billion, a P/E ratio of 55.47, a PEG ratio of 3.21 and a beta of 1.30. The firm's 50-day simple moving average is $320.12 and its 200 day simple moving average is $277.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce's payout ratio is 26.32%.

Insider Buying and Selling

In other news, insider Miguel Milano sold 719 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,298 shares of company stock worth $39,903,781. Company insiders own 3.20% of the company's stock.

Institutional Trading of Salesforce

A number of large investors have recently bought and sold shares of CRM. Aviance Capital Partners LLC raised its holdings in shares of Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider's stock valued at $1,860,000 after purchasing an additional 33 shares during the period. EWA LLC grew its holdings in Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider's stock worth $548,000 after buying an additional 33 shares in the last quarter. Umpqua Bank raised its position in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider's stock valued at $2,110,000 after buying an additional 34 shares during the last quarter. Principal Street Partners LLC raised its position in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider's stock valued at $891,000 after buying an additional 34 shares during the last quarter. Finally, Nvwm LLC lifted its stake in Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider's stock valued at $667,000 after acquiring an additional 36 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.