Salesforce (NYSE:CRM) Stock Price Down 0.6%

Salesforce, Inc. (NYSE:CRM)’s share price fell 0.6% during trading on Tuesday . The company traded as low as $270.12 and last traded at $271.99. 832,523 shares were traded during mid-day trading, a decline of 87% from the average session volume of 6,530,746 shares. The stock had previously closed at $273.71.

Analysts Set New Price Targets

Several brokerages have weighed in on CRM. Wedbush raised their price objective on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley lifted their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a research note on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Finally, Piper Sandler raised Salesforce from a “neutral” rating to an “overweight” rating and upped their price target for the company from $268.00 to $325.00 in a report on Tuesday, September 24th. Eight equities research 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.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.03.

Salesforce Stock Down 0.4 %

The firm’s 50 day moving average price is $256.65 and its two-hundred day moving average price is $264.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $264.22 billion, a P/E ratio of 48.92, a price-to-earnings-growth ratio of 2.39 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. Equities research analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total value of $1,061,550.00. Following the transaction, the insider now owns 116,693 shares in the company, valued at $29,494,155.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares in the company, valued at approximately $376,624.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total value of $1,061,550.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The disclosure for this sale can be found here. Insiders have sold 67,985 shares of company stock worth $17,632,363 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Neville Rodie & Shaw Inc. grew its position in Salesforce by 0.4% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 51,151 shares of the CRM provider’s stock valued at $14,001,000 after acquiring an additional 210 shares during the last quarter. Greater Midwest Financial Group LLC raised its stake in Salesforce by 4.2% in the second quarter. Greater Midwest Financial Group LLC now owns 20,768 shares of the CRM provider’s stock valued at $5,302,000 after buying an additional 845 shares during the last quarter. Centaurus Financial Inc. raised its stake in Salesforce by 23.4% in the second quarter. Centaurus Financial Inc. now owns 12,464 shares of the CRM provider’s stock valued at $3,204,000 after buying an additional 2,365 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of Salesforce by 5.5% in the second quarter. Anchor Investment Management LLC now owns 3,709 shares of the CRM provider’s stock worth $954,000 after purchasing an additional 195 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Salesforce by 130.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 187,072 shares of the CRM provider’s stock worth $48,096,000 after purchasing an additional 105,972 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.