Salesforce (NYSE:CRM) Shares Down 1%

Shares of Salesforce, Inc. (NYSE:CRM) fell 1% during mid-day trading on Monday . The company traded as low as $258.87 and last traded at $260.01. 1,064,335 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 6,776,935 shares. The stock had previously closed at $262.71.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Wedbush dropped their price objective on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, May 29th. Oppenheimer dropped their price objective on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Morgan Stanley lowered their price target on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Evercore ISI lowered their price target on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $292.79.

Salesforce Trading Down 1.0 %

The stock’s 50 day moving average is $251.20 and its two-hundred day moving average is $275.56. The company has a market capitalization of $251.90 billion, a PE ratio of 46.76, a price-to-earnings-growth ratio of 2.31 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $270.93, for a total transaction of $1,137,906.00. Following the sale, the insider now directly owns 115,762 shares in the company, valued at approximately $31,363,398.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 309,242 shares of company stock valued at $82,157,371. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce during the fourth quarter worth $26,000. Ruedi Wealth Management Inc. boosted its stake in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce during the fourth quarter worth $31,000. 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.