Salesforce (NYSE:CRM) Shares Down 0% Following Insider Selling

Salesforce, Inc. (NYSE:CRM) shares were down 0% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $340.83 and last traded at $342.75. Approximately 531,327 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 6,423,873 shares. The stock had previously closed at $342.90.

Specifically, COO Brian Millham sold 16,487 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the transaction, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $566,210.16. The trade was a 90.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director G Mason Morfit sold 15,353 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now directly owns 2,898,509 shares in the company, valued at $987,087,239.95. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. BMO Capital Markets lifted their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Morgan Stanley raised their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $378.86.

Salesforce Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $327.77 billion, a PE ratio of 56.33, a P/E/G ratio of 3.21 and a beta of 1.30. The business’s 50 day moving average is $324.16 and its 200-day moving average is $280.32.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. As a group, analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the business. Independent Solutions Wealth Management LLC lifted its position in shares of Salesforce by 7.3% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 2,140 shares of the CRM provider’s stock worth $586,000 after buying an additional 145 shares during the last quarter. Legacy Wealth Management LLC MS acquired a new stake in Salesforce during the 3rd quarter worth $210,000. Garden State Investment Advisory Services LLC lifted its position in Salesforce by 28.0% in the third quarter. Garden State Investment Advisory Services LLC now owns 3,274 shares of the CRM provider’s stock valued at $898,000 after acquiring an additional 717 shares during the last quarter. Copley Financial Group Inc. acquired a new stake in shares of Salesforce during the third quarter worth about $463,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Salesforce in the 3rd quarter valued at about $15,894,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.