Salesforce (NYSE:CRM) Shares Down 0.9% on Insider Selling

Shares of Salesforce, Inc. (NYSE:CRM) were down 0.9% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $318.42 and last traded at $321.70. Approximately 1,871,113 shares traded hands during trading, a decline of 69% from the average daily volume of 6,073,852 shares. The stock had previously closed at $324.53.

Specifically, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,342,415. This represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Redburn Atlantic started coverage on shares of Salesforce in a research report on Wednesday. They set a “buy” rating for the company. Robert W. Baird upped their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. DA Davidson increased their target price on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada boosted their price target on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $376.84.

Salesforce Stock Performance

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $335.02 and its 200-day moving average price is $304.66. The firm has a market cap of $306.22 billion, a price-to-earnings ratio of 52.65, a PEG ratio of 2.64 and a beta of 1.31.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Trading of Salesforce

A number of hedge funds have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. purchased a new position in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC increased its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

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.