Salesforce (NYSE:CRM) Shares Down 1.1% on Insider Selling

Salesforce, Inc. (NYSE:CRM) shares fell 1.1% during trading on Friday following insider selling activity. The company traded as low as $336.55 and last traded at $338.08. 912,109 shares were traded during mid-day trading, a decline of 86% from the average session volume of 6,395,108 shares. The stock had previously closed at $341.72.

Specifically, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the sale, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at $566,210.16. This trade represents a 90.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Loop Capital upped their price target on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Stifel Nicolaus lifted their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, TD Cowen raised their price objective on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.86.

Salesforce Stock Performance

The firm has a fifty day moving average of $327.37 and a 200-day moving average of $281.90. 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 stock has a market capitalization of $322.69 billion, a price-to-earnings ratio of 55.46, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last released 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is currently 26.32%.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the third quarter valued at $27,000. Clear Investment Research LLC boosted its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Finally, Annapolis Financial Services LLC lifted its stake in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors 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.