Salesforce (NYSE:CRM) Stock Price Down 2.2% Following Insider Selling

Salesforce, Inc. (NYSE:CRM) shares were down 2.2% during trading on Friday following insider selling activity. The stock traded as low as $271.48 and last traded at $271.77. Approximately 1,037,279 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 6,372,324 shares. The stock had previously closed at $277.81.

Specifically, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the sale, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. The trade was a 5.76 % 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, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the sale, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRM. Wells Fargo & Company cut their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $261.22 billion, a PE ratio of 44.70, a PEG ratio of 2.58 and a beta of 1.35. The firm’s 50 day moving average is $310.49 and its 200 day moving average is $310.51.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce during the fourth quarter valued at approximately $25,000. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter worth about $27,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at about $27,000. Arlington Trust Co LLC raised its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in Salesforce in the fourth quarter worth approximately $30,000. 80.43% of the stock is currently owned by institutional investors.

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.