Salesforce (NYSE:CRM) Stock Price Down 0.4% – Here’s What Happened

Salesforce, Inc. (NYSE:CRM)’s stock price dropped 0.4% during trading on Friday . The stock traded as low as $356.46 and last traded at $356.46. Approximately 1,659,083 shares traded hands during trading, a decline of 74% from the average daily volume of 6,390,628 shares. The stock had previously closed at $358.03.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. DA Davidson upped their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. UBS Group raised their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.24.

Salesforce Stock Performance

The company has a 50-day moving average of $317.48 and a 200-day moving average of $275.61. The company has a market cap of $339.07 billion, a PE ratio of 58.27, a PEG ratio of 3.21 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the business posted $1.62 earnings per share. Salesforce’s revenue was up 8.3% on a year-over-year basis. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.45%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,223,020.24. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,498 shares of company stock valued at $40,983,349 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Salesforce

Hedge funds have recently added to or reduced their stakes in the stock. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter worth approximately $27,000. Clear Investment Research LLC grew its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Stephens Consulting LLC increased its holdings in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the 2nd quarter valued at about $33,000. Finally, Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. 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.