Salesforce (NYSE:CRM) Stock Price Down 1.6% – Here’s Why

Salesforce, Inc. (NYSE:CRM) shares fell 1.6% during mid-day trading on Friday . The company traded as low as $324.93 and last traded at $326.19. 2,267,937 shares were traded during mid-day trading, a decline of 64% from the average session volume of 6,297,994 shares. The stock had previously closed at $331.65.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRM. Raymond James lifted their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. BMO Capital Markets upped their target price on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group raised their price target on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Robert W. Baird upped their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Canaccord Genuity Group lifted their target price on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $322.51.

Salesforce Stock Performance

The firm’s 50 day moving average price is $286.61 and its 200-day moving average price is $266.64. The firm has a market cap of $310.95 billion, a price-to-earnings ratio of 56.57, a P/E/G ratio of 3.09 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Buying and Selling

In other news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 3,528 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $29,464,622.79. The trade was a 2.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock valued at $41,250,680 over the last ninety days. 3.20% of the stock is owned by company insiders.

Institutional Trading of Salesforce

Several institutional investors have recently bought and sold shares of CRM. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at about $27,000. Clear Investment Research LLC grew its stake in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter valued at approximately $33,000. Institutional investors and hedge funds 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.