Salesforce (NYSE:CRM) Stock Price Down 0.7% on Insider Selling

Salesforce, Inc. (NYSE:CRM)’s share price fell 0.7% on Tuesday following insider selling activity. The company traded as low as $295.25 and last traded at $295.91. 1,022,153 shares were traded during trading, a decline of 84% from the average session volume of 6,244,034 shares. The stock had previously closed at $298.01.

Specifically, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CRM shares. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Truist Financial reaffirmed a “buy” rating and issued a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Cfra set a $343.00 price objective on shares of Salesforce in a research note on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $313.37.

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’s 50 day moving average is $274.34 and its 200-day moving average is $263.56. The company has a market capitalization of $284.44 billion, a P/E ratio of 51.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. Equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. Salesforce’s payout ratio is 27.83%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRM. Ruedi Wealth Management Inc. increased 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 purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank increased 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 purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC increased its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC increased its stake in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter valued at about $33,000. 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.