Salesforce (NYSE:CRM) Shares Down 0.4% Following Analyst Downgrade

Salesforce, Inc. (NYSE:CRM - Get Free Report) dropped 0.4% during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $340.00 to $320.00. UBS Group currently has a neutral rating on the stock. Salesforce traded as low as $283.71 and last traded at $286.78. Approximately 1,214,545 shares changed hands during trading, a decline of 82% from the average daily volume of 6,867,251 shares. The stock had previously closed at $288.06.

Several other analysts also recently weighed in on CRM. Macquarie restated a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Robert W. Baird decreased their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company dropped their price objective on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Cantor Fitzgerald began coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 target price on the stock. Finally, Canaccord Genuity Group dropped their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $351.59.

Insider Buying and Selling at Salesforce

In related news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the sale, the chief executive officer now owns 5,518 shares of the company's stock, valued at approximately $1,570,312.44. This trade represents a 41.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,306 shares of company stock valued at $12,841,368. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Nvest Financial LLC lifted its holdings in shares of Salesforce by 1.1% in the fourth 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 lifted its stake in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC grew its stake in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its position in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business's 50-day moving average is $268.48 and its two-hundred day moving average is $307.02. The company has a market capitalization of $275.51 billion, a P/E ratio of 47.13, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is presently 26.10%.

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.

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