Salesforce (NYSE:CRM) Stock Price Down 1.2% After Insider Selling

Salesforce, Inc. (NYSE:CRM) shares traded down 1.2% during trading on Wednesday following insider selling activity. The company traded as low as $323.80 and last traded at $325.04. 1,114,803 shares changed hands during trading, a decline of 82% from the average session volume of 6,084,210 shares. The stock had previously closed at $328.96.

Specifically, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several research firms recently weighed in on CRM. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. BMO Capital Markets lifted their price target on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.84.

Salesforce Trading Down 1.5 %

The stock has a 50 day simple moving average of $335.02 and a 200-day simple moving average of $304.66. The firm has a market capitalization of $310.25 billion, a P/E ratio of 53.32, a P/E/G ratio of 2.62 and a beta of 1.31. 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 (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. On average, equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the 4th quarter valued at approximately $25,000. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter valued at approximately $27,000. Accredited Wealth Management LLC purchased a new stake in Salesforce during the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC grew its holdings in 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 buying an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in Salesforce during the 4th quarter valued at approximately $30,000. 80.43% of the stock is currently owned by 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.