Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price was up 0.4% during trading on Tuesday . The stock traded as high as $269.31 and last traded at $269.41. Approximately 1,066,623 shares were traded during trading, a decline of 84% from the average daily volume of 6,625,044 shares. The stock had previously closed at $268.36.
Analysts Set New Price Targets
Several research firms recently commented on CRM. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective for the company in a report on Friday, December 13th. Barclays lifted their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Macquarie restated a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $361.42.
View Our Latest Analysis on CRM
Salesforce Stock Down 6.1 %
The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $245.11 billion, a P/E ratio of 41.95, a PEG ratio of 2.58 and a beta of 1.35. The company has a fifty day moving average price of $304.32 and a 200-day moving average price of $311.11.
Salesforce Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. Salesforce's dividend payout ratio (DPR) is 26.10%.
Insider Transactions at Salesforce
In other news, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the sale, the insider now owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company's stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 in the last three months. Insiders own 3.20% of the company's stock.
Institutional Investors Weigh In On Salesforce
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new position in shares of Salesforce during the 4th quarter worth $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce during the fourth quarter valued at $31,000. Institutional investors own 80.43% of the company's stock.
Salesforce Company Profile
(
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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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