Salesforce, Inc. (NYSE:CRM) Director Oscar Munoz Acquires 3,882 Shares of Stock

Salesforce, Inc. (NYSE:CRM) Director Oscar Munoz bought 3,882 shares of the stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the acquisition, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Salesforce Stock Down 5.9 %

Shares of NYSE CRM opened at $240.26 on Friday. The stock has a fifty day moving average price of $302.46 and a 200 day moving average price of $311.00. 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, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company 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.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors 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 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CRM shares. Citigroup reissued a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a report on Friday, December 13th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Scotiabank dropped their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Finally, Bank of America dropped their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $361.42.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the 4th quarter worth $27,000. Arlington Trust Co LLC increased its position in shares of 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 last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at about $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter worth about $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

About Salesforce

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.