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

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares traded down 0.4% on Wednesday after Citigroup lowered their price target on the stock from $335.00 to $320.00. Citigroup currently has a neutral rating on the stock. Salesforce traded as low as $283.71 and last traded at $286.78. 1,214,545 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 6,867,251 shares. The stock had previously closed at $288.06.

Several other research firms have also weighed in on CRM. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Cantor Fitzgerald began coverage on shares of Salesforce in a report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price objective on the stock. Westpark Capital reiterated a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. Robert W. Baird lowered their target price 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. Finally, Mizuho decreased their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $351.59.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 705 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,011 shares of company stock worth $13,038,373 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of CRM. Tallon Kerry Patrick purchased a new stake in shares of Salesforce in the fourth quarter worth $236,000. Apeiron RIA LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at $264,000. Brighton Jones LLC boosted its position in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. LexAurum Advisors LLC boosted its position in shares of Salesforce by 33.8% during the fourth quarter. LexAurum Advisors LLC now owns 1,068 shares of the CRM provider's stock valued at $357,000 after buying an additional 270 shares during the last quarter. Finally, CX Institutional boosted its position in shares of Salesforce by 3.9% during the fourth quarter. CX Institutional now owns 5,858 shares of the CRM provider's stock valued at $1,959,000 after buying an additional 221 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $262.51 billion, a PE ratio of 44.91, a PEG ratio of 2.58 and a beta of 1.42. The firm has a 50-day moving average of $268.46 and a 200 day moving average of $306.58.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.62%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

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.