Salesforce (NYSE:CRM) Stock Price Up 0.3% – Here’s What Happened

Salesforce, Inc. (NYSE:CRM) rose 0.3% during trading on Wednesday . The company traded as high as $331.53 and last traded at $324.44. Approximately 1,923,532 shares were traded during trading, a decline of 59% from the average daily volume of 4,650,301 shares. The stock had previously closed at $323.54.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Cfra set a $343.00 price objective on Salesforce in a report on Thursday, October 17th. BMO Capital Markets increased their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Salesforce Stock Performance

The firm has a market capitalization of $309.13 billion, a price-to-earnings ratio of 53.13, a PEG ratio of 3.20 and a beta of 1.30. The company has a fifty day moving average of $336.76 and a two-hundred day moving average of $290.66. 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) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s payout ratio is 26.32%.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the completion of the sale, the insider now owns 118,514 shares in the company, valued at $34,229,213.48. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,177,617 shares of company stock worth $403,542,975. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently made changes to their positions in the stock. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at about $27,000. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter valued at about $33,000. Annapolis Financial Services LLC lifted its stake in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of Salesforce in the 4th quarter valued at about $55,000. Institutional investors own 80.43% of the company’s stock.

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.