Salesforce (NYSE:CRM) Shares Gap Down to $294.32

Salesforce, Inc. (NYSE:CRM) gapped down prior to trading on Monday . The stock had previously closed at $294.32, but opened at $282.94. Salesforce shares last traded at $284.16, with a volume of 2,568,332 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Wednesday, April 3rd. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target for the company in a research note on Monday, December 18th. Robert W. Baird increased their price target on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. BMO Capital Markets increased their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Mizuho reiterated a “buy” rating and issued a $345.00 price target (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $306.26.

Salesforce Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $270.51 billion, a PE ratio of 66.16, a P/E/G ratio of 2.26 and a beta of 1.28. The firm’s fifty day simple moving average is $298.82 and its two-hundred day simple moving average is $259.77.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Insider Activity

In other news, COO Brian Millham sold 293,965 shares of Salesforce stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Amy E. Weaver sold 7,074 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the sale, the chief financial officer now owns 38,993 shares of the company’s stock, valued at $11,074,012. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Brian Millham sold 293,965 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 907,375 shares of company stock worth $262,519,346 over the last quarter. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Salesforce

A number of hedge funds have recently bought and sold shares of CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $26,000. Aspect Partners LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $29,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at $31,000. Finally, Main Street Group LTD purchased a new stake in shares of 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.