Salesforce (NYSE:CRM) Trading Down 2.2% After Insider Selling

Salesforce, Inc. (NYSE:CRM) shares fell 2.2% during mid-day trading on Friday following insider selling activity. The stock traded as low as $271.48 and last traded at $271.77. 1,037,279 shares changed hands during trading, a decline of 84% from the average session 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 business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Millham sold 3,937 shares of Salesforce 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 directly owns 5,518 shares in the company, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Redburn Atlantic assumed coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. DA Davidson decreased their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Northland Securities reiterated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Stephens initiated coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Price Performance

The firm has a 50-day simple moving average of $310.49 and a 200-day simple moving average of $310.51. The firm has a market cap of $261.22 billion, a P/E ratio of 44.70, a PEG ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. 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. Salesforce’s payout ratio is 25.16%.

Institutional Trading of Salesforce

A number of institutional investors have recently modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new position in Salesforce in the fourth quarter worth $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the 4th quarter worth $27,000. Arlington Trust Co LLC increased its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the fourth quarter valued at about $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter worth about $31,000. 80.43% of the stock is currently 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.