Salesforce (NYSE:CRM) Shares Up 1.3% Following Insider Buying Activity

Salesforce, Inc. (NYSE:CRM)’s share price traded up 1.3% during mid-day 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. 4,787,045 shares were traded during mid-day trading, a decline of 28% from the average session volume of 6,685,936 shares. The stock had previously closed at $240.76.

Specifically, Director Oscar Munoz bought 3,882 shares of the stock in a transaction dated Thursday, April 3rd. The shares were bought at an average cost of $257.28 per share, with a total value of $998,760.96. Following the completion of the acquisition, the director now owns 11,843 shares of the company’s stock, valued at $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CRM shares. Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. JMP Securities reiterated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Stock Performance

The stock’s 50 day moving average price is $295.86 and its 200 day moving average price is $311.01. The company has a market capitalization of $234.13 billion, a P/E ratio of 40.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bernard Wealth Management Corp. bought a new stake in Salesforce in the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter valued at $30,000. Finally, Asset Planning Inc bought a new position in Salesforce during the fourth quarter worth $31,000. 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.