Salesforce (NYSE:CRM) Trading Down 0.6% - Time to Sell?

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares dropped 0.6% on Friday . The stock traded as low as $287.92 and last traded at $288.29. Approximately 525,073 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 6,475,672 shares. The stock had previously closed at $290.17.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Wedbush lifted their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, September 27th. Bank of America reaffirmed a "buy" rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $342.00 price target on shares of Salesforce in a research note on Wednesday, August 28th. Stifel Nicolaus lifted their price target on shares of Salesforce from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lifted their price target on shares of Salesforce from $250.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $310.74.

Salesforce Trading Down 0.7 %

The firm has a market cap of $275.42 billion, a P/E ratio of 50.14, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm's 50-day simple moving average is $261.04 and its 200 day simple moving average is $264.29.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The company's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce's dividend payout ratio (DPR) is presently 27.83%.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the company's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the sale, the insider now owns 118,514 shares of the company's stock, valued at approximately $34,181,807.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the company's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the sale, the insider now owns 118,514 shares of the company's stock, valued at approximately $34,181,807.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,155 shares of the business's stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $295,425.90. Following the completion of the transaction, the insider now directly owns 20,556 shares of the company's stock, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,612 shares of company stock valued at $21,283,087. Company insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ruedi Wealth Management Inc. grew its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider's stock worth $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider's stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its stake 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 in the last quarter. Red Tortoise LLC purchased a new stake in shares of Salesforce in the 1st quarter valued at $33,000. Finally, Stephens Consulting LLC boosted its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. 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.