Salesforce (NYSE:CRM) Shares Down 0.4% Following Insider Selling

Salesforce, Inc. (NYSE:CRM)’s stock price dropped 0.4% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $284.23 and last traded at $287.18. Approximately 504,068 shares changed hands during trading, a decline of 92% from the average daily volume of 6,433,883 shares. The stock had previously closed at $288.35.

Specifically, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Wedbush lifted their price objective on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Oppenheimer upped their price objective on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Sanford C. Bernstein increased their price objective on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, UBS Group boosted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Salesforce Stock Performance

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $265.84 and a two-hundred day moving average price of $263.84. The stock has a market capitalization of $283.86 billion, a P/E ratio of 52.78, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the firm posted $1.63 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. Salesforce’s payout ratio is 28.78%.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently modified their holdings of the business. Harfst & Associates Inc. boosted its position in Salesforce by 28.0% in the third quarter. Harfst & Associates Inc. now owns 7,093 shares of the CRM provider’s stock valued at $1,941,000 after buying an additional 1,553 shares during the last quarter. Clarity Wealth Advisors LLC boosted its holdings in Salesforce by 6.1% in the third quarter. Clarity Wealth Advisors LLC now owns 1,738 shares of the CRM provider’s stock valued at $476,000 after purchasing an additional 100 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of Salesforce by 4.0% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 246,191 shares of the CRM provider’s stock valued at $67,483,000 after buying an additional 9,548 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Salesforce by 35.9% in the 3rd quarter. Blue Trust Inc. now owns 11,610 shares of the CRM provider’s stock valued at $2,985,000 after buying an additional 3,065 shares during the period. Finally, Meridian Financial Partners LLC boosted its stake in shares of Salesforce by 1.5% in the third quarter. Meridian Financial Partners LLC now owns 4,395 shares of the CRM provider’s stock worth $1,203,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.