Salesforce (NYSE:CRM) Trading Down 1.7% Following Insider Selling

Shares of Salesforce Inc. (NYSE:CRM - Get Free Report) traded down 1.7% during trading on Wednesday following insider selling activity. The stock traded as low as $265.65 and last traded at $267.32. 1,668,816 shares changed hands during trading, a decline of 74% from the average session volume of 6,520,073 shares. The stock had previously closed at $271.91.

Specifically, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $272.48, for a total value of $613,080.00. Following the completion of the transaction, the chief executive officer directly owned 11,862,457 shares in the company, valued at approximately $3,232,282,283.36. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Stephens reduced their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Westpark Capital reissued a "buy" rating and issued a $320.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Canaccord Genuity Group reduced their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Finally, Oppenheimer reissued an "outperform" rating and set a $370.00 price objective on shares of Salesforce in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $349.08.

Salesforce Trading Up 0.9%

The firm has a market capitalization of $259.63 billion, a P/E ratio of 42.50, a P/E/G ratio of 2.44 and a beta of 1.36. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $272.21 and a 200-day simple moving average of $292.32.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the business posted $2.44 earnings per share. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth $27,000. Capital A Wealth Management LLC lifted its position in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares during the period. Finally, Abound Financial LLC bought a new stake in Salesforce during the 1st quarter valued at approximately $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.