Salesforce (NYSE:CRM) Shares Down 2.3% - Should You Sell?

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares traded down 2.3% on Thursday . The company traded as low as $254.87 and last traded at $258.53. 1,847,530 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 6,756,332 shares. The stock had previously closed at $264.75.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Wedbush restated an "outperform" rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, TD Cowen raised Salesforce from a "hold" rating to a "buy" rating and raised their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $360.76.

Salesforce Stock Down 0.4 %

The firm has a market cap of $244.13 billion, a price-to-earnings ratio of 41.78, a P/E/G ratio of 2.58 and a beta of 1.38. The firm has a 50 day moving average price of $289.29 and a 200-day moving average price of $310.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insiders Place Their Bets

In other news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the transaction, the chief executive officer now owns 5,518 shares in the company, valued at approximately $1,570,312.44. This trade represents a 41.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares of the company's stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the 4th quarter valued at about $27,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $30,000. Finally, Asset Planning Inc acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.