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

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares traded down 1.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $323.80 and last traded at $325.04. 1,114,803 shares traded hands during trading, a decline of 82% from the average session volume of 6,084,210 shares. The stock had previously closed at $328.96.

Specifically, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 target price for the company in a research note on Friday, December 13th. UBS Group upped their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Loop Capital lowered their target price on shares of Salesforce from $360.00 to $330.00 and set a "hold" rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.53.

Salesforce Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $334.23 and a 200-day moving average of $304.76. The stock has a market capitalization of $296.98 billion, a P/E ratio of 51.04, a PEG ratio of 2.63 and a beta of 1.31.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.46 EPS for the current 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce's dividend payout ratio (DPR) is 26.32%.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter worth about $25,000. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter worth $30,000. Institutional investors and hedge funds own 80.43% of the company's stock.

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.