Salesforce (NYSE:CRM) Trading Down 1.8% on Insider Selling

Salesforce, Inc. (NYSE:CRM) fell 1.8% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $282.07 and last traded at $283.37. 1,556,451 shares were traded during trading, a decline of 76% from the average session volume of 6,365,167 shares. The stock had previously closed at $288.61.

Specifically, CEO Brian Millham sold 3,937 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at $1,570,312.44. This represents a 41.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44 % decrease in their position. The disclosure for this sale can be found here. In other news, insider Parker Harris sold 3,273 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $931,430.34. Following the completion of the transaction, the insider now directly owns 125,146 shares in the company, valued at approximately $35,614,048.68. This represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company reduced their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Down 1.1 %

The stock has a market cap of $267.04 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35. The stock has a 50 day simple moving average of $310.49 and a 200 day simple moving average of $310.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.60%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the 4th quarter worth about $25,000. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. 80.43% of the stock is owned by 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.