Salesforce (NYSE:CRM) Shares Down 0.5% Following Insider Selling

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares traded down 0.5% during mid-day trading on Thursday following insider selling activity. The company traded as low as $246.90 and last traded at $248.56. 1,462,045 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 6,996,793 shares. The stock had previously closed at $249.84.

Specifically, CAO Sundeep G. Reddy sold 1,256 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $318,157.36. Following the sale, the chief accounting officer now directly owns 12,826 shares of the company's stock, valued at approximately $3,248,954.06. This represents a 8.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. The trade was a 16.17 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRM shares. Stifel Nicolaus lowered their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Stephens began coverage on Salesforce in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target for the company. Bank of America cut their price objective 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 reaffirmed an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a report on Monday. Finally, Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average target price of $358.97.

Salesforce Trading Down 4.9 %

The stock has a market capitalization of $225.88 billion, a PE ratio of 38.66, a P/E/G ratio of 2.58 and a beta of 1.38. The business's fifty day moving average is $281.23 and its 200-day moving average is $309.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.

Institutional Trading of Salesforce

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