Salesforce (NYSE:CRM) Shares Down 1.6%

Salesforce, Inc. (NYSE:CRM)’s share price traded down 1.6% during trading on Monday . The stock traded as low as $251.00 and last traded at $252.90. 10,507,700 shares were traded during trading, an increase of 58% from the average session volume of 6,635,155 shares. The stock had previously closed at $257.01.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Roth Mkm reiterated a “buy” rating and issued a $335.00 price target on shares of Salesforce in a research report on Thursday. Loop Capital increased their target price on shares of Salesforce from $240.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler raised their price objective on shares of Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Canaccord Genuity Group boosted their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $304.41.

Salesforce Price Performance

The company has a current ratio of 1.04, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $254.44 and a two-hundred day moving average price of $271.00. The firm has a market cap of $245.06 billion, a P/E ratio of 45.49, a PEG ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.52 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $235.99, for a total transaction of $660,772.00. Following the completion of the transaction, the insider now directly owns 115,762 shares of the company’s stock, valued at approximately $27,318,674.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $235.99, for a total transaction of $660,772.00. Following the completion of the transaction, the insider now directly owns 115,762 shares in the company, valued at approximately $27,318,674.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders sold 112,964 shares of company stock valued at $27,956,647 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ruedi Wealth Management Inc. boosted its position in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Red Tortoise LLC bought a new stake in Salesforce in the first quarter valued at approximately $33,000. Clear Investment Research LLC raised its stake in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter valued at approximately $33,000. 80.43% of the stock is 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.