Salesforce (NYSE:CRM) Shares Down 0% on Insider Selling

Salesforce, Inc. (NYSE:CRM)’s stock price traded down 0% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $340.83 and last traded at $342.75. 531,327 shares were traded during trading, a decline of 92% from the average session volume of 6,423,873 shares. The stock had previously closed at $342.90.

Specifically, COO Brian Millham sold 16,487 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the sale, the chief operating officer now directly owns 1,662 shares in the company, valued at $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. In other news, Director G Mason Morfit sold 15,353 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $340.55, for a total value of $5,228,464.15. Following the completion of the transaction, the director now owns 2,898,509 shares of the company’s stock, valued at approximately $987,087,239.95. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRM shares. DA Davidson increased their price target on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Barclays raised their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, BMO Capital Markets upped their price objective on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $378.86.

Salesforce Trading Up 0.4 %

The firm’s fifty day moving average is $325.29 and its two-hundred day moving average is $281.04. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $329.62 billion, a P/E ratio of 56.65, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $1.62 earnings per share. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. Salesforce’s dividend payout ratio is currently 26.32%.

Institutional Trading of Salesforce

A number of institutional investors and hedge funds have recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Clear Investment Research LLC raised its holdings in shares of Salesforce by 816.7% during the second 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 during the last quarter. Stephens Consulting LLC lifted its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the second quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. grew its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. 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.