Salesforce (NYSE:CRM) Shares Down 1.2% Following Insider Selling

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price fell 1.2% on Friday following insider selling activity. The company traded as low as $246.80 and last traded at $246.93. 5,564,231 shares were traded during trading, a decline of 18% from the average session volume of 6,772,298 shares. The stock had previously closed at $249.84.

Specifically, CAO Sundeep G. Reddy sold 1,256 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the sale, the chief accounting officer now owns 12,826 shares in the company, valued at $3,248,954.06. This trade represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company's stock, 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRM shares. Robert W. Baird dropped their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group cut their price objective on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Macquarie reiterated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Wells Fargo & Company cut their price target on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Finally, Jefferies Financial Group decreased their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $360.32.

Salesforce Trading Down 1.2 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $237.30 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a 50-day moving average price of $281.23 and a 200 day moving average price of $309.60.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its stake in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after buying an additional 4,752 shares during the last quarter. Athena Investment Management acquired a new stake in Salesforce in the 4th quarter worth approximately $236,000. Highland Capital Management LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $4,321,000. Nordea Investment Management AB lifted its stake in shares of Salesforce by 11.9% during the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock worth $766,566,000 after buying an additional 243,008 shares during the period. Finally, CWA Asset Management Group LLC increased its position in shares of Salesforce by 14.1% in the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock valued at $5,252,000 after acquiring an additional 1,936 shares during the period. 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.