Salesforce (NYSE:CRM) Trading Down 3.2% - What's Next?

Shares of Salesforce, Inc. (NYSE:CRM - Get Free Report) were down 3.2% during trading on Friday . The stock traded as low as $316.23 and last traded at $316.39. Approximately 2,461,033 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 4,229,465 shares. The stock had previously closed at $326.90.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Scotiabank boosted their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a "sector outperform" rating in a research report on Wednesday, December 4th. BMO Capital Markets increased their target price on shares of Salesforce from $385.00 to $425.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Guggenheim cut Salesforce from a "neutral" rating to a "sell" rating and set a $247.00 price objective on the stock. in a research note on Monday. Morgan Stanley upped their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group upped their target price on Salesforce from $315.00 to $415.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average price target of $376.05.

Salesforce Price Performance

The company has a market cap of $304.16 billion, a P/E ratio of 52.27, a PEG ratio of 3.21 and a beta of 1.30. The company has a fifty day moving average price of $335.82 and a two-hundred day moving average price of $289.07. 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 (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the firm earned $1.62 EPS. Salesforce's quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce's dividend payout ratio (DPR) is currently 26.32%.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company's stock, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares of the company's stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,181,817 shares of company stock worth $404,760,429. Company insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the company. Nabity Jensen Investment Management Inc acquired a new position in Salesforce during the third quarter valued at approximately $1,215,000. Prime Capital Investment Advisors LLC increased its stake in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider's stock valued at $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Aljian Capital Management LLC raised its holdings in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider's stock worth $3,629,000 after buying an additional 1,834 shares in the last quarter. AIA Group Ltd lifted its position in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider's stock worth $6,577,000 after buying an additional 1,962 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

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.