Salesforce (NYSE:CRM) Stock Price Down 0.7% Following Insider Selling

Salesforce, Inc. (NYSE:CRM) traded down 0.7% on Thursday after an insider sold shares in the company. The company traded as low as $276.01 and last traded at $279.06. 831,545 shares were traded during trading, a decline of 88% from the average session volume of 6,852,848 shares. The stock had previously closed at $280.99.

Specifically, insider R David Schmaier sold 1,785 shares of the 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 transaction, the insider now owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian Millham sold 3,937 shares of the company’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 $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 approximately $1,570,312.44. The trade was a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction 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 completion of the sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Guggenheim reiterated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Macquarie reissued a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $362.74.

Salesforce Stock Performance

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 stock has a market cap of $259.51 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock’s 50-day simple moving average is $309.39 and its two-hundred day simple moving average is $310.68.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the fourth quarter valued at $25,000. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter worth $27,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Finally, Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter valued at about $30,000. 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.