Salesforce (NYSE:CRM) Shares Down 2.1% - Should You Sell?

Salesforce, Inc. (NYSE:CRM - Get Free Report) was down 2.1% during trading on Friday . The company traded as low as $247.68 and last traded at $249.75. Approximately 1,408,913 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 6,780,868 shares. The stock had previously closed at $255.12.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRM. Loop Capital decreased their price objective on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. DA Davidson cut their price target on Salesforce from $275.00 to $250.00 and set a "neutral" rating on the stock in a research report on Monday. JMP Securities reissued a "market outperform" rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Guggenheim reiterated a "sell" rating and issued a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Finally, Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $360.76.

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Salesforce Stock Performance

The firm has a market cap of $244.13 billion, a PE ratio of 41.78, a P/E/G ratio of 2.58 and a beta of 1.38. 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's 50 day moving average price is $289.29 and its 200 day moving average price is $310.70.

Salesforce Increases Dividend

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

Insider Transactions at Salesforce

In related news, Director Oscar Munoz purchased 3,882 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares of the company's stock, valued at $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of the stock. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD raised its holdings in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its position in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC boosted its holdings in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its position in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. 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.