Salesforce (NYSE:CRM) Trading Down 1.1% on Insider Selling

Salesforce, Inc. (NYSE:CRM)’s stock price traded down 1.1% on Friday following insider selling activity. The company traded as low as $336.55 and last traded at $338.08. 912,109 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 6,395,108 shares. The stock had previously closed at $341.72.

Specifically, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. In other Salesforce news, 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 completion of the sale, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRM. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. Royal Bank of Canada upped their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $378.86.

Salesforce Stock Performance

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 firm has a market capitalization of $323.90 billion, a PE ratio of 55.67, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The firm’s 50 day moving average price is $328.28 and its 200-day moving average price is $282.57.

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 return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the third quarter worth about $27,000. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the 2nd quarter worth approximately $33,000. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Finally, Annapolis Financial Services LLC lifted its position in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.