Salesforce (NYSE:CRM) Shares Down 0.1% on Insider Selling

Shares of Salesforce, Inc. (NYSE:CRM) traded down 0.1% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $260.50 and last traded at $260.74. 1,047,350 shares traded hands during trading, a decline of 84% from the average session volume of 6,548,612 shares. The stock had previously closed at $261.09.

Specifically, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $30,920,275.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

Several research analysts recently issued reports on CRM shares. Sanford C. Bernstein raised their target price on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. reduced their target price on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. DA Davidson lowered their price target on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Wells Fargo & Company reduced their price objective on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Finally, Bank of America lifted their target price on shares of Salesforce from $288.00 to $316.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $291.50.

Salesforce Price Performance

The business has a 50-day moving average price of $250.86 and a 200 day moving average price of $272.49. The stock has a market cap of $252.66 billion, a PE ratio of 46.90, a PEG ratio of 2.22 and a beta of 1.29. 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 posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $1.15 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a $0.40 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.61%. Salesforce’s dividend payout ratio is currently 28.78%.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the stock. 3Chopt Investment Partners LLC bought a new position in Salesforce in the 2nd quarter valued at $454,000. SPC Financial Inc. raised its position in shares of Salesforce by 31.1% in the second quarter. SPC Financial Inc. now owns 1,924 shares of the CRM provider’s stock worth $495,000 after buying an additional 456 shares in the last quarter. Granite Bay Wealth Management LLC bought a new stake in Salesforce during the second quarter valued at $8,041,000. Ted Buchan & Co bought a new position in Salesforce in the 2nd quarter worth about $871,000. Finally, Advisory Alpha LLC raised its holdings in shares of Salesforce by 32.1% in the 2nd quarter. Advisory Alpha LLC now owns 1,844 shares of the CRM provider’s stock valued at $474,000 after acquiring an additional 448 shares in the last quarter. 80.43% of the stock is currently 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.