Insider Buying: Salesforce, Inc. (NYSE:CRM) Director Buys 3,882 Shares of Stock

Salesforce, Inc. (NYSE:CRM) Director Oscar Munoz purchased 3,882 shares of the stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the transaction, the director now directly owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. The trade was a 48.76 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Salesforce Trading Down 5.9 %

CRM stock opened at $240.26 on Friday. The business’s 50 day moving average is $302.46 and its 200-day moving average is $311.00. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market cap of $230.89 billion, a P/E ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Hedge Funds Weigh In On Salesforce

Large investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the 4th quarter worth $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in the 4th 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 period. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. Stephens initiated coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target for the company. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group lowered their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Scotiabank cut their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $361.42.

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.