Salesforce (NYSE:CRM) Shares Down 2.2% on Insider Selling

Salesforce, Inc. (NYSE:CRM) traded down 2.2% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $301.14 and last traded at $301.49. 1,951,480 shares traded hands during trading, a decline of 68% from the average session volume of 6,127,753 shares. The stock had previously closed at $308.32.

Specifically, insider Miguel Milano sold 458 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRM. Macquarie reiterated a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group increased their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $374.47.

Salesforce Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $288.48 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 2.58 and a beta of 1.31. The business’s 50 day moving average is $332.36 and its 200 day moving average is $306.60.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the firm earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds 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.