Salesforce (NYSE:CRM) Stock Price Up 4.6% - Time to Buy?

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price rose 4.6% during trading on Wednesday . The stock traded as high as $257.79 and last traded at $254.65. Approximately 2,375,456 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 6,777,685 shares. The stock had previously closed at $243.39.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRM. Stifel Nicolaus lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Scotiabank dropped their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. TD Cowen upgraded Salesforce from a "hold" rating to a "buy" rating and raised their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Piper Sandler dropped their price target on Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, DA Davidson restated an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $351.37.

Salesforce Stock Up 1.1 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $274.96 and a two-hundred day simple moving average of $308.44. The company has a market cap of $257.08 billion, a PE ratio of 44.03, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,705,195. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,051 shares of company stock valued at $15,027,714. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the fourth quarter worth $27,000. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the fourth quarter valued at $30,000. Finally, Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.