Salesforce (NYSE:CRM) Shares Down 0.1% – Time to Sell?

Salesforce, Inc. (NYSE:CRM) was down 0.1% during mid-day trading on Tuesday . The stock traded as low as $323.00 and last traded at $326.18. Approximately 1,830,425 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 6,135,591 shares. The stock had previously closed at $326.54.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays raised their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley raised their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Robert W. Baird raised their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $415.00 target price (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Performance

The company’s 50-day moving average is $336.04 and its two-hundred day moving average is $303.93. 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 market cap of $314.49 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last three months. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the stock. RBA Wealth Management LLC grew its position in shares of Salesforce by 3.7% during the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after purchasing an additional 574 shares in the last quarter. Net Worth Advisory Group purchased a new position in Salesforce during the third quarter worth about $340,000. New Century Financial Group LLC increased its stake in Salesforce by 158.0% in the 3rd quarter. New Century Financial Group LLC now owns 2,038 shares of the CRM provider’s stock worth $558,000 after acquiring an additional 1,248 shares during the last quarter. Vest Financial LLC raised its holdings in shares of Salesforce by 168.2% in the 3rd quarter. Vest Financial LLC now owns 5,201 shares of the CRM provider’s stock valued at $1,424,000 after acquiring an additional 3,262 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during 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.