Salesforce (NYSE:CRM) Stock Price Down 0.5% – What’s Next?

Salesforce, Inc. (NYSE:CRM)’s stock price dropped 0.5% on Thursday . The stock traded as low as $331.20 and last traded at $332.78. Approximately 1,223,247 shares traded hands during trading, a decline of 81% from the average daily volume of 6,379,467 shares. The stock had previously closed at $334.33.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CRM shares. Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report 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 report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Macquarie reissued a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $378.86.

Salesforce Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $314.42 billion, a PE ratio of 54.04, a PEG ratio of 3.21 and a beta of 1.30. The company has a 50 day moving average price of $331.09 and a 200 day moving average price of $285.02.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. Equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,181,807.88. This represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,186,017 shares of company stock worth $405,971,793. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CRM. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Salesforce during the second quarter worth approximately $327,000. Magnus Financial Group LLC grew its holdings in shares of Salesforce by 16.9% during the 2nd quarter. Magnus Financial Group LLC now owns 2,567 shares of the CRM provider’s stock valued at $660,000 after acquiring an additional 372 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Salesforce by 0.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 83,429 shares of the CRM provider’s stock worth $21,450,000 after acquiring an additional 712 shares during the last quarter. Founders Financial Securities LLC raised its holdings in shares of Salesforce by 7.6% during the second quarter. Founders Financial Securities LLC now owns 3,504 shares of the CRM provider’s stock worth $901,000 after acquiring an additional 247 shares in the last quarter. Finally, Archer Investment Corp boosted its position in Salesforce by 15.2% during the second quarter. Archer Investment Corp now owns 759 shares of the CRM provider’s stock valued at $195,000 after purchasing an additional 100 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other 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.