Salesforce (NYSE:CRM) Trading Down 0.9% Following Insider Selling

Shares of Salesforce, Inc. (NYSE:CRM) traded down 0.9% on Monday following insider selling activity. The stock traded as low as $303.53 and last traded at $307.10. 2,047,005 shares changed hands during trading, a decline of 67% from the average session volume of 6,117,325 shares. The stock had previously closed at $309.80.

Specifically, insider Miguel Milano sold 458 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRM shares. Loop Capital reduced their target price on Salesforce from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research report on Monday, January 6th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $374.47.

Salesforce Stock Down 0.7 %

The company has a 50-day moving average of $331.46 and a two-hundred day moving average of $306.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $292.86 billion, a PE ratio of 50.33, a P/E/G ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company 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 firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 earnings per share. Sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s payout ratio is 26.32%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRM. State Street Corp boosted its stake in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the period. Geode Capital Management LLC boosted its stake in Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after purchasing an additional 175,035 shares during the period. Fisher Asset Management LLC grew its holdings in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after buying an additional 177,321 shares in the last quarter. Northern Trust Corp raised its position in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after buying an additional 1,736,667 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Salesforce in the fourth quarter worth $3,599,867,000. 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.