Salesforce (NYSE:CRM) Shares Down 0.2% – Time to Sell?

Salesforce, Inc. (NYSE:CRM)’s share price traded down 0.2% during trading on Tuesday . The stock traded as low as $323.65 and last traded at $330.31. 2,503,109 shares traded hands during trading, a decline of 60% from the average session volume of 6,272,413 shares. The stock had previously closed at $331.01.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Friday, September 20th. DA Davidson increased their price target on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, TD Cowen raised their target price on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $345.31.

Salesforce Trading Down 0.2 %

The business’s fifty day moving average is $302.12 and its 200 day moving average is $270.49. The firm has a market capitalization of $315.66 billion, a price-to-earnings ratio of 57.45, a price-to-earnings-growth ratio of 2.99 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. This represents a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,982 shares of company stock valued at $41,591,457 in the last quarter. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Piscataqua Savings Bank boosted its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter worth about $27,000. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC lifted its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the second quarter valued at $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.