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

Shares of Salesforce, Inc. (NYSE:CRM) fell 0% during trading on Tuesday following insider selling activity. The company traded as low as $340.83 and last traded at $342.75. 531,327 shares were traded during trading, a decline of 92% from the average session volume of 6,423,873 shares. The stock had previously closed at $342.90.

Specifically, COO Brian Millham sold 16,487 shares of Salesforce stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the transaction, the chief operating officer now directly 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 legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 942 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. The trade was 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 company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $340.55, for a total value of $5,228,464.15. Following the completion of the sale, the director now directly owns 2,898,509 shares of the company’s stock, valued at approximately $987,087,239.95. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

Several brokerages recently issued reports on CRM. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Macquarie restated a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Eight investment 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 company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $378.86.

Salesforce Price Performance

The company has a market capitalization of $327.77 billion, a price-to-earnings ratio of 56.33, a PEG ratio of 3.21 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s 50 day simple moving average is $324.16 and its 200-day simple moving average is $280.32.

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

Salesforce Dividend Announcement

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

Institutional Trading of Salesforce

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