Salesforce (NYSE:CRM) Trading Down 0.1% Following Insider Selling

Salesforce, Inc. (NYSE:CRM)’s share price was down 0.1% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $260.50 and last traded at $260.74. Approximately 1,047,350 shares traded hands during trading, a decline of 84% from the average daily volume of 6,548,612 shares. The stock had previously closed at $261.09.

Specifically, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. BMO Capital Markets decreased their price objective on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Canaccord Genuity Group decreased their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Jefferies Financial Group decreased their price objective on Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Friday, May 24th. Finally, DA Davidson decreased their price objective on Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $291.50.

Salesforce Trading Up 2.1 %

The stock has a market cap of $255.74 billion, a PE ratio of 47.47, a PEG ratio of 2.22 and a beta of 1.29. 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 stock has a fifty day moving average price of $252.09 and a 200 day moving average price of $272.22.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. Equities analysts expect that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Hedge Funds Weigh In On Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Chase Investment Counsel Corp lifted its stake in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after acquiring an additional 36 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares during the last quarter. Fox Hill Wealth Management lifted its stake in shares of Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after acquiring an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the last quarter. Finally, Glassman Wealth Services lifted its stake in shares of Salesforce by 2.9% during the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after acquiring an additional 39 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.