Salesforce, Inc. (NYSE:CRM - Get Free Report) CAO Sundeep G. Reddy sold 1,256 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $318,157.36. Following the completion of the transaction, the chief accounting officer now directly owns 12,826 shares of the company's stock, valued at approximately $3,248,954.06. This trade represents a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Salesforce Stock Performance
Shares of Salesforce stock traded down $11.21 during trading on Monday, hitting $236.05. 8,850,833 shares of the stock were exchanged, compared to its average volume of 6,793,019. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 stock has a market capitalization of $226.84 billion, a price-to-earnings ratio of 38.82, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a fifty day moving average price of $281.23 and a 200-day moving average price of $309.80.
Salesforce Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 26.10%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Loop Capital decreased their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. DA Davidson reissued an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research note on Monday. TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and upped their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $358.97.
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Institutional Trading of Salesforce
A number of hedge funds have recently modified their holdings of CRM. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Athena Investment Management bought a new stake in shares of Salesforce during the 4th quarter worth $236,000. Highland Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $4,321,000. Nordea Investment Management AB increased its position in Salesforce by 11.9% during the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock worth $766,566,000 after purchasing an additional 243,008 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its position in Salesforce by 14.1% in the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock valued at $5,252,000 after buying an additional 1,936 shares in the last quarter. Institutional investors and hedge funds 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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