Salesforce (NYSE:CRM) Stock Price Down 0.5% - Time to Sell?

Salesforce, Inc. (NYSE:CRM - Get Free Report) shares fell 0.5% on Tuesday . The company traded as low as $285.21 and last traded at $286.23. 936,959 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 6,861,091 shares. The stock had previously closed at $287.63.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRM. Oppenheimer lowered their price objective on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Macquarie reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Wells Fargo & Company decreased their target price on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Redburn Atlantic began coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, UBS Group decreased their target price on shares of Salesforce from $340.00 to $320.00 and set a "neutral" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $351.59.

Salesforce Stock Up 0.3%

The company's 50-day moving average is $268.58 and its 200 day moving average is $306.75. The company has a market capitalization of $272.15 billion, a PE ratio of 46.56, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.59%. This is an increase 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 is 26.10%.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 458 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company's stock, valued at $1,805,936.08. This trade represents a 7.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is owned by insiders.

Institutional Trading of Salesforce

A number of institutional investors have recently made changes to their positions in the stock. MBL Wealth LLC boosted its holdings in shares of Salesforce by 55.2% during the 1st quarter. MBL Wealth LLC now owns 2,880 shares of the CRM provider's stock valued at $773,000 after acquiring an additional 1,024 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Salesforce by 31.6% in the 1st quarter. Acadian Asset Management LLC now owns 107,844 shares of the CRM provider's stock worth $28,934,000 after purchasing an additional 25,882 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Salesforce by 23.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 17,520 shares of the CRM provider's stock worth $4,702,000 after purchasing an additional 3,376 shares during the period. Acorns Advisers LLC lifted its stake in shares of Salesforce by 27.8% in the 1st quarter. Acorns Advisers LLC now owns 869 shares of the CRM provider's stock worth $233,000 after purchasing an additional 189 shares during the period. Finally, Belpointe Asset Management LLC lifted its stake in shares of Salesforce by 91.4% in the 1st quarter. Belpointe Asset Management LLC now owns 7,735 shares of the CRM provider's stock worth $2,077,000 after purchasing an additional 3,694 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

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.