Salesforce (NYSE:CRM) Stock Price Down 0% – Time to Sell?

Shares of Salesforce, Inc. (NYSE:CRM) dropped 0% during trading on Monday . The company traded as low as $313.80 and last traded at $317.78. Approximately 1,099,133 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,370,107 shares. The stock had previously closed at $317.85.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Loop Capital upped their target price on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. Finally, Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $376.05.

Salesforce Trading Up 0.0 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $304.30 billion, a PE ratio of 52.30, a PEG ratio of 3.21 and a beta of 1.30. The business’s 50-day moving average is $335.82 and its two-hundred day moving average is $289.73.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,181,817 shares of company stock worth $404,760,429 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of the stock. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce in the third quarter worth about $1,215,000. Prime Capital Investment Advisors LLC raised its position in shares of Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC lifted its stake in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. AIA Group Ltd boosted its holdings in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after buying an additional 1,962 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the period. Institutional investors and hedge funds 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.