Salesforce (NYSE:CRM) Stock Price Down 3.3% - Time to Sell?

Salesforce, Inc. (NYSE:CRM - Get Free Report)'s stock price traded down 3.3% during mid-day trading on Thursday . The stock traded as low as $340.00 and last traded at $342.23. 3,118,344 shares were traded during mid-day trading, a decline of 49% from the average session volume of 6,085,889 shares. The stock had previously closed at $354.00.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRM. Bank of America boosted their target price on shares of Salesforce from $390.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Macquarie reissued a "neutral" rating and issued a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Needham & Company LLC raised their target price on shares of Salesforce from $375.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Finally, BMO Capital Markets increased their price target on Salesforce from $385.00 to $425.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $377.63.

Salesforce Trading Down 0.5 %

The business's 50-day simple moving average is $338.67 and its two-hundred day simple moving average is $297.66. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $327.10 billion, a PE ratio of 56.22, a PEG ratio of 3.20 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.35 billion. During the same period in the prior year, the company posted $1.62 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce's dividend payout ratio is presently 26.32%.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company's stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company's stock, valued at approximately $35,431,349.48. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,669 shares of company stock worth $383,286,905 in the last ninety days. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter valued at approximately $30,000. Asset Planning Inc bought a new position in Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial acquired a new stake in Salesforce in the fourth quarter worth $32,000. 80.43% of the stock is currently owned by institutional investors.

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.