Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 6,697 Shares of Stock

Salesforce, Inc. (NYSE:CRM - Get Free Report) insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares in the company, valued at $12,219,490. This represents a 13.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Salesforce Stock Performance

Shares of CRM traded down $0.26 during trading hours on Thursday, reaching $290.48. 4,632,870 shares of the company traded hands, compared to its average volume of 6,746,164. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock's fifty day moving average is $267.47 and its 200 day moving average is $307.10. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $279.26 billion, a P/E ratio of 47.78, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the 4th quarter worth approximately $27,000. Arlington Trust Co LLC increased its holdings 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 purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the fourth quarter worth $30,000. Finally, Asset Planning Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on CRM. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. DA Davidson restated an "underperform" rating and set a $200.00 target price on shares of Salesforce in a report on Monday, April 21st. Needham & Company LLC restated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Friday, April 25th. Canaccord Genuity Group cut their price objective on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Citigroup reaffirmed a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $352.62.

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.

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