Salesforce (NYSE:CRM) Stock Price Down 0% - Here's Why

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares fell 0% during mid-day trading on Monday . The company traded as low as $313.80 and last traded at $317.78. 1,099,133 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,370,107 shares. The stock had previously closed at $317.85.

Analysts Set New Price Targets

CRM has been the topic of a number of research reports. Scotiabank boosted their target price on shares of Salesforce from $425.00 to $440.00 and gave the company a "sector outperform" rating in a report on Wednesday, December 4th. Citigroup upped their price objective on shares of Salesforce from $368.00 to $390.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their target price on Salesforce from $275.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $376.05.

Salesforce Stock Down 0.8 %

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 stock has a market cap of $307.21 billion, a P/E ratio of 52.80, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The company's fifty day moving average price is $336.76 and its 200-day moving average price is $290.66.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 earnings per share. Equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company's stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the sale, the insider now directly owns 118,514 shares of the company's stock, valued at $34,229,213.48. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,617 shares of company stock valued at $403,542,975 over the last ninety days. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce during the 3rd quarter worth about $1,215,000. Prime Capital Investment Advisors LLC boosted its position in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider's stock valued at $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC increased its holdings in Salesforce by 16.1% in 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 during the period. AIA Group Ltd raised its position in 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 lifted its stake in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after acquiring an additional 257,501 shares during the period. Institutional investors and hedge funds 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.

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