Salesforce (NYSE:CRM) Shares Down 1.1% – Time to Sell?

Salesforce, Inc. (NYSE:CRM)’s stock price fell 1.1% during trading on Wednesday . The company traded as low as $288.14 and last traded at $288.40. 1,064,710 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 6,499,645 shares. The stock had previously closed at $291.57.

Analysts Set New Price Targets

A number of research firms have commented on CRM. Citigroup raised their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Loop Capital reiterated a “hold” rating and set a $270.00 price objective on shares of Salesforce in a report on Thursday, September 19th. JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Sanford C. Bernstein raised their price target on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Oppenheimer raised their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Stock Down 1.2 %

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 firm has a market capitalization of $279.22 billion, a P/E ratio of 51.87, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The company’s fifty day simple moving average is $259.72 and its 200 day simple moving average is $263.94.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The business 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%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS. Research analysts expect that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 8,427 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now owns 1,363 shares in the company, valued at $376,624.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 8,427 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock valued at $20,071,723 in the last three months. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently made changes to their positions in the business. Sendero Wealth Management LLC raised its stake in Salesforce by 19.7% during the 3rd quarter. Sendero Wealth Management LLC now owns 22,667 shares of the CRM provider’s stock worth $6,204,000 after acquiring an additional 3,738 shares during the period. Quotient Wealth Partners LLC raised its stake in Salesforce by 1.9% during the 3rd quarter. Quotient Wealth Partners LLC now owns 4,608 shares of the CRM provider’s stock worth $1,261,000 after acquiring an additional 88 shares during the period. Northwest Bank & Trust Co grew its holdings in Salesforce by 0.8% during the 3rd quarter. Northwest Bank & Trust Co now owns 5,594 shares of the CRM provider’s stock valued at $1,531,000 after buying an additional 44 shares in the last quarter. Modus Advisors LLC grew its holdings in Salesforce by 2.1% during the 3rd quarter. Modus Advisors LLC now owns 14,347 shares of the CRM provider’s stock valued at $3,927,000 after buying an additional 290 shares in the last quarter. Finally, Guardian Asset Advisors LLC purchased a new stake in Salesforce during the 3rd quarter valued at approximately $408,000. 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.