Salesforce (NYSE:CRM) Shares Up 0.3%

Salesforce, Inc. (NYSE:CRM)’s share price was up 0.3% during trading on Thursday . The stock traded as high as $252.29 and last traded at $250.27. Approximately 1,634,497 shares traded hands during trading, a decline of 75% from the average daily volume of 6,537,137 shares. The stock had previously closed at $249.57.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRM. Truist Financial reiterated a “buy” rating and issued a $300.00 price objective on shares of Salesforce in a report on Friday, August 30th. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Robert W. Baird raised their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Piper Sandler boosted their target price on shares of Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Oppenheimer raised their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $304.41.

Salesforce Stock Up 0.5 %

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $253.56 and a two-hundred day simple moving average of $268.35. The firm has a market capitalization of $246.68 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, insider Parker Harris sold 3,528 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $29,464,622.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,376 shares of company stock worth $15,878,005. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ruedi Wealth Management Inc. boosted its holdings in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC increased its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Red Tortoise LLC purchased a new stake in shares of Salesforce in the first quarter valued at $33,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. 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.