Salesforce (NYSE:CRM) Stock Price Down 1.4% Following Insider Selling

Shares of Salesforce, Inc. (NYSE:CRM) fell 1.4% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $242.27 and last traded at $242.68. 1,110,946 shares were traded during trading, a decline of 83% from the average session volume of 6,574,403 shares. The stock had previously closed at $246.12.

Specifically, insider Parker Harris sold 3,528 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $29,464,622.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRM. UBS Group upped their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Canaccord Genuity Group upped their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Roth Mkm reiterated a “buy” rating and set a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Bank of America reiterated a “buy” rating and set a $325.00 price target on shares of Salesforce in a report on Friday. Finally, Sanford C. Bernstein upped their price target on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.41.

Salesforce Stock Down 0.9 %

The company has a market capitalization of $236.46 billion, a price-to-earnings ratio of 43.89, a P/E/G ratio of 2.22 and a beta of 1.29. The business’s 50-day moving average is $254.52 and its 200-day moving average is $269.79. The company has a quick ratio of 1.11, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. As a group, equities analysts predict that Salesforce, Inc. will post 7.52 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CRM. Ruedi Wealth Management Inc. grew its stake in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank grew its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC grew its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Red Tortoise LLC purchased a new stake in shares of Salesforce in the 1st quarter valued at approximately $33,000. Finally, Stephens Consulting LLC grew its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds 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.