Salesforce (NYSE:CRM) Stock Price Down 4% – What’s Next?

Salesforce, Inc. (NYSE:CRM) shares were down 4% during mid-day trading on Thursday . The stock traded as low as $272.52 and last traded at $273.30. Approximately 1,978,145 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 6,978,292 shares. The stock had previously closed at $284.58.

Analyst Ratings Changes

Several equities analysts recently issued reports on CRM shares. Barclays boosted their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus reduced their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer reduced their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, BMO Capital Markets reduced their price target on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Trading Up 3.0 %

The company has a market capitalization of $268.85 billion, a price-to-earnings ratio of 46.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a fifty day moving average price of $318.03 and a 200-day moving average price of $308.70.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 16,487 shares of the firm’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 sale, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at $566,210.16. This trade represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Salesforce

Large investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the fourth quarter valued at about $25,000. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter valued at about $27,000. Accredited Wealth Management LLC bought a new position in Salesforce in the fourth quarter valued at about $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Finally, Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter valued at about $30,000. 80.43% of the stock is 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.