Salesforce (NYSE:CRM) Stock Price Down 0.1% on Insider Selling

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares fell 0.1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $276.71 and last traded at $277.14. 864,916 shares traded hands during trading, a decline of 84% from the average session volume of 5,387,200 shares. The stock had previously closed at $277.52.

Specifically, CFO Amy E. Weaver sold 7,075 shares of the business's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the transaction, the chief financial officer now directly owns 38,483 shares of the company's stock, valued at $11,903,561.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Marc Benioff sold 15,000 shares of the company's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $276.84, for a total value of $4,152,600.00. Following the completion of the transaction, the chief executive officer now directly owns 12,587,327 shares of the company's stock, valued at $3,484,675,606.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 7,075 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the transaction, the chief financial officer now directly owns 38,483 shares of the company's stock, valued at $11,903,561.56. The disclosure for this sale can be found here. Insiders have sold 629,193 shares of company stock worth $183,088,748 over the last three months. Company insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Argus upped their price target on Salesforce from $290.00 to $354.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. StockNews.com cut Salesforce from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 19th. Robert W. Baird increased their price objective on Salesforce from $310.00 to $355.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Wedbush increased their price objective on Salesforce from $280.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Finally, Citigroup raised their price target on Salesforce from $265.00 to $325.00 and gave the company a "neutral" rating in a research report on Monday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $310.61.

Salesforce Price Performance

The business's 50 day moving average price is $290.65 and its 200-day moving average price is $270.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $267.94 billion, a PE ratio of 65.90, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce's dividend payout ratio (DPR) is 9.52%.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ruedi Wealth Management Inc. raised its stake in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider's stock valued at $26,000 after buying an additional 56 shares in the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $26,000. Red Tortoise LLC acquired a new stake in shares of Salesforce during the 1st quarter worth approximately $33,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Institutional investors own 80.43% of the company's stock.

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.