Salesforce (NYSE:CRM) Shares Down 0.7% on Insider Selling

Salesforce, Inc. (NYSE:CRM) shares were down 0.7% on Wednesday following insider selling activity. The company traded as low as $252.22 and last traded at $252.94. Approximately 1,013,195 shares traded hands during trading, a decline of 84% from the average daily volume of 6,504,472 shares. The stock had previously closed at $254.79.

Specifically, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now directly owns 828 shares in the company, valued at $202,702.68. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CRM shares. Jefferies Financial Group lowered their price target on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Wedbush reissued an “outperform” rating and issued a $315.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. TD Cowen increased their price objective on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. BMO Capital Markets increased their price objective on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $306.00.

Salesforce Stock Performance

The firm has a market capitalization of $257.63 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day moving average price is $253.90 and its two-hundred day moving average price is $267.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm posted $1.63 EPS. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.60%. Salesforce’s payout ratio is 28.78%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Ruedi Wealth Management Inc. raised its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank grew its position in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC grew its position in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Red Tortoise LLC acquired a new stake in Salesforce in the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC grew its position in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other 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.