Salesforce (NYSE:CRM) Shares Down 2.2% Following Insider Selling

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s stock price traded down 2.2% on Friday following insider selling activity. The stock traded as low as $271.48 and last traded at $271.77. 1,037,279 shares changed hands during trading, a decline of 84% from the average session volume of 6,372,324 shares. The stock had previously closed at $277.81.

Specifically, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares in the company, valued at $8,416,644.60. This represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Millham sold 3,937 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. The trade was a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. The trade was a 14.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Bank of America cut their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. DA Davidson decreased their price target on Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Stephens initiated coverage on Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective on the stock. Scotiabank decreased their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, Oppenheimer reduced their price objective on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

Salesforce Stock Performance

The stock has a market cap of $255.02 billion, a price-to-earnings ratio of 43.65, a P/E/G ratio of 2.58 and a beta of 1.35. 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 firm has a fifty day simple moving average of $309.39 and a 200-day simple moving average of $311.57.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently made changes to their positions in CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth $27,000. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% in the fourth 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 during the period. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc bought a new position in Salesforce in the fourth quarter valued at approximately $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

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.