Salesforce (NYSE:CRM) Trading Down 0.5% on Insider Selling

Salesforce, Inc. (NYSE:CRM)’s stock price fell 0.5% on Thursday after an insider sold shares in the company. The stock traded as low as $246.90 and last traded at $248.56. 1,462,045 shares changed hands during trading, a decline of 79% from the average session volume of 6,996,793 shares. The stock had previously closed at $249.84.

Specifically, CAO Sundeep G. Reddy sold 1,256 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the sale, the chief accounting officer now owns 12,826 shares of the company’s stock, valued at $3,248,954.06. This trade represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at $9,141,957.90. The trade was a 16.17 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

CRM has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday. Macquarie reiterated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Stifel Nicolaus decreased their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $360.32.

Salesforce Trading Down 1.2 %

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 business has a 50 day simple moving average of $281.23 and a two-hundred day simple moving average of $309.39. The stock has a market cap of $237.30 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Institutional Trading of Salesforce

Several institutional investors have recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in Salesforce during the 4th quarter worth approximately $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $30,000. Finally, Asset Planning Inc acquired a new stake in shares of Salesforce during 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.