Salesforce (NYSE:CRM) Stock Price Down 0.7% Following Insider Selling

Shares of Salesforce, Inc. (NYSE:CRM) traded down 0.7% during mid-day trading on Thursday following insider selling activity. The company traded as low as $276.01 and last traded at $279.06. 831,545 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 6,852,848 shares. The stock had previously closed at $280.99.

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

Analysts Set New Price Targets

A number of brokerages recently commented on CRM. Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada raised their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Barclays raised their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Down 2.8 %

The company has a market cap of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. The business has a 50-day simple moving average of $309.39 and a 200-day simple moving average of $310.68. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new position in Salesforce during the fourth quarter worth about $25,000. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the third quarter worth $27,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter worth $30,000. 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.