Salesforce (NYSE:CRM) Trading Down 1.7% – Should You Sell?

Salesforce, Inc. (NYSE:CRM) shares traded down 1.7% during mid-day trading on Friday . The stock traded as low as $280.92 and last traded at $281.24. 1,714,751 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 6,824,419 shares. The stock had previously closed at $286.05.

Analyst Ratings Changes

CRM has been the subject of a number of research reports. Citigroup restated a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. UBS Group raised their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.62.

Salesforce Stock Performance

The stock has a market cap of $269.83 billion, a price-to-earnings ratio of 46.35, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $324.79 and a 200 day simple moving average of $308.06.

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). The company had revenue of $9.44 billion during 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%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Insider Activity

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nvest Financial LLC grew its holdings in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD increased its holdings in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. 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.