Salesforce (NYSE:CRM) Stock Price Down 0.5% After Insider Selling

Shares of Salesforce, Inc. (NYSE:CRM) fell 0.5% during mid-day trading on Thursday following insider selling activity. The company traded as low as $245.75 and last traded at $246.47. 895,199 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 6,586,178 shares. The stock had previously closed at $247.68.

Specifically, insider Parker Harris sold 3,528 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,464,622.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRM shares. JMP Securities reissued a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Wednesday, August 28th. Citigroup increased their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday. Canaccord Genuity Group increased their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on Salesforce from $300.00 to $310.00 and gave the company an “overweight” 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 three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $304.41.

Salesforce Stock Performance

The company has a 50 day moving average price of $254.52 and a 200-day moving average price of $269.79. The company has a current ratio of 1.04, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The company has a market cap of $236.41 billion, a P/E ratio of 43.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRM. Ruedi Wealth Management Inc. grew its holdings in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank grew its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Red Tortoise LLC acquired a new stake in Salesforce during the 1st quarter worth about $33,000. Finally, Stephens Consulting LLC grew its holdings in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors.

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.