Salesforce (NYSE:CRM) Stock Price Down 0.9% Following Insider Selling

Salesforce, Inc. (NYSE:CRM)’s share price fell 0.9% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $318.42 and last traded at $321.70. 1,871,113 shares changed hands during trading, a decline of 69% from the average session volume of 6,073,852 shares. The stock had previously closed at $324.53.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday. They issued a “buy” rating on the stock. Robert W. Baird raised their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, DA Davidson lifted their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $375.53.

Salesforce Stock Performance

The firm’s fifty day moving average is $333.34 and its 200-day moving average is $305.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $296.23 billion, a PE ratio of 50.91, a price-to-earnings-growth ratio of 2.63 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is currently 26.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ascent Group LLC grew its position in Salesforce by 1.2% in the 4th quarter. Ascent Group LLC now owns 16,187 shares of the CRM provider’s stock valued at $5,412,000 after acquiring an additional 185 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $1,394,000. Mackenzie Financial Corp increased its stake in Salesforce by 100.2% during the 4th quarter. Mackenzie Financial Corp now owns 585,861 shares of the CRM provider’s stock worth $195,871,000 after buying an additional 293,291 shares during the period. Forum Financial Management LP increased its stake in Salesforce by 24.5% during the 4th quarter. Forum Financial Management LP now owns 10,543 shares of the CRM provider’s stock worth $3,525,000 after buying an additional 2,075 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $7,936,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.