Salesforce (NYSE:CRM) Shares Down 0.8% - Should You Sell?

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s share price was down 0.8% during mid-day trading on Wednesday . The company traded as low as $263.00 and last traded at $265.65. Approximately 884,989 shares changed hands during trading, a decline of 87% from the average daily volume of 6,911,227 shares. The stock had previously closed at $267.76.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRM. Bank of America cut their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Cantor Fitzgerald assumed coverage on Salesforce in a report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price objective for the company. One 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $350.56.

Salesforce Stock Performance

The company has a 50 day simple moving average of $271.56 and a 200-day simple moving average of $308.10. The stock has a market cap of $256.33 billion, a P/E ratio of 43.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce's dividend payout ratio is 26.10%.

Insider Buying and Selling

In other news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock worth $15,027,714 in the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Salesforce

Large investors have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC increased its position 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 during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the 4th quarter worth about $30,000. Finally, Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter valued at about $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.

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