Salesforce (NYSE:CRM) Stock Price Down 2.2% on Insider Selling

Salesforce, Inc. (NYSE:CRM) dropped 2.2% on Friday following insider selling activity. The stock traded as low as $271.48 and last traded at $271.77. Approximately 1,037,279 shares changed hands during trading, a decline of 84% from the average daily volume of 6,372,324 shares. The stock had previously closed at $277.81.

Specifically, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the transaction, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian Millham sold 3,937 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. The trade was a 41.64 % decrease in their position. The disclosure for this sale can be found here. In other news, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Citigroup reiterated a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Scotiabank decreased their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Salesforce Trading Down 2.8 %

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 company has a market capitalization of $259.51 billion, a P/E ratio of 44.42, a PEG ratio of 2.58 and a beta of 1.35. The company’s fifty day simple moving average is $309.39 and its 200-day simple moving average is $310.68.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.62%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently bought and sold shares of CRM. Fire Capital Management LLC bought a new stake in Salesforce during the 4th quarter valued at $1,326,000. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Salesforce during the 4th quarter worth $431,000. M1 Capital Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth $347,000. DSG Capital Advisors LLC bought a new stake in Salesforce during the fourth quarter valued at about $3,237,000. Finally, 111 Capital purchased a new position in Salesforce in the fourth quarter valued at about $1,808,000. Institutional investors own 80.43% of the company’s stock.

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.