Salesforce (NYSE:CRM) Stock Price Down 0.5% – Time to Sell?

Salesforce, Inc. (NYSE:CRM)’s share price was down 0.5% during mid-day trading on Tuesday . The company traded as low as $285.21 and last traded at $286.23. Approximately 936,959 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 6,861,091 shares. The stock had previously closed at $287.63.

Analyst Ratings Changes

A number of equities analysts have commented on CRM shares. Oppenheimer lowered their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. DA Davidson reissued an “underperform” rating and set a $200.00 target price on shares of Salesforce in a research report on Monday, April 21st. Macquarie reaffirmed a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Finally, Bank of America decreased their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $352.62.

Salesforce Stock Performance

The firm’s 50 day simple moving average is $268.15 and its 200 day simple moving average is $307.16. The firm has a market capitalization of $276.03 billion, a price-to-earnings ratio of 47.19, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.59%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the transaction, the insider now directly owns 41,422 shares of the company’s stock, valued at $12,219,490. The trade was a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,306 shares of company stock valued at $12,841,368 over the last quarter. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC raised its stake in shares of Salesforce by 3.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider’s stock worth $818,000 after buying an additional 84 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of Salesforce during the 4th quarter worth $236,000. Ameritas Advisory Services LLC lifted its stake in shares of Salesforce by 0.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 7,588 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 64 shares during the period. Oak Ridge Investments LLC acquired a new stake in shares of Salesforce in the 4th quarter worth approximately $683,000. Finally, Artemis Investment Management LLP acquired a new position in Salesforce during the fourth quarter worth about $15,117,000. Hedge funds and other institutional investors 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.