Salesforce (NYSE:CRM) Trading Down 0.7% – Time to Sell?

Salesforce, Inc. (NYSE:CRM)’s stock price dropped 0.7% during trading on Monday . The company traded as low as $266.62 and last traded at $266.02. Approximately 1,149,230 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 6,801,886 shares. The stock had previously closed at $267.85.

Analysts Set New Price Targets

A number of equities research analysts have commented on CRM shares. Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Jefferies Financial Group lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Morgan Stanley decreased their target price on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Bank of America decreased their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group dropped their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One equities research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $351.37.

Salesforce Price Performance

The firm has a market capitalization of $254.80 billion, a P/E ratio of 43.57, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 business has a 50 day simple moving average of $273.75 and a two-hundred day simple moving average of $308.54.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is currently 26.10%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Millham sold 979 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $248,333.14. Following the completion of the sale, the chief executive officer now directly owns 6,487 shares of the company’s stock, valued at $1,645,492.42. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,051 shares of company stock valued at $15,027,714. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently modified their holdings of CRM. Nvest Financial LLC boosted its position in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD grew its holdings in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

About Salesforce

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.