Salesforce (NYSE:CRM) Trading 1.3% Higher Following Insider Buying Activity

Salesforce, Inc. (NYSE:CRM) shares rose 1.3% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $252.95 and last traded at $243.79. Approximately 4,787,045 shares changed hands during trading, a decline of 28% from the average daily volume of 6,685,936 shares. The stock had previously closed at $240.76.

Specifically, Director Oscar Munoz acquired 3,882 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the transaction, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of equities analysts recently commented on CRM shares. Bank of America lowered their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Guggenheim reaffirmed a “sell” rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Robert W. Baird decreased their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Price Performance

The stock has a fifty day moving average of $302.46 and a two-hundred day moving average of $311.80. The stock has a market cap of $231.18 billion, a price-to-earnings ratio of 39.60, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Institutional Trading of Salesforce

Institutional investors have recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce in the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter worth $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter valued at $31,000. Hedge funds and other 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.