Salesforce (NYSE:CRM) Shares Down 1.7% on Insider Selling

Salesforce, Inc. (NYSE:CRM)’s share price traded down 1.7% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $291.04 and last traded at $291.40. 748,175 shares were traded during mid-day trading, a decline of 88% from the average session volume of 6,270,198 shares. The stock had previously closed at $296.40.

Specifically, COO Brian Millham sold 60,522 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the transaction, the insider now directly owns 119,402 shares in the company, valued at approximately $35,586,572.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, COO Brian Millham sold 969 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRM shares. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. TD Cowen increased their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Citigroup lifted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $313.37.

Salesforce Trading Up 1.1 %

The firm’s fifty day moving average price is $273.02 and its 200-day moving average price is $263.37. The company has a market cap of $281.75 billion, a price-to-earnings ratio of 51.26, a P/E/G ratio of 2.68 and a beta of 1.30. 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 earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. On average, equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sustainable Insight Capital Management LLC boosted its stake in Salesforce by 66.7% during the 3rd quarter. Sustainable Insight Capital Management LLC now owns 1,499 shares of the CRM provider’s stock valued at $410,000 after purchasing an additional 600 shares in the last quarter. GSG Advisors LLC raised its holdings in shares of Salesforce by 8.7% during the third quarter. GSG Advisors LLC now owns 1,200 shares of the CRM provider’s stock valued at $325,000 after acquiring an additional 96 shares during the period. Essex Savings Bank lifted its holdings in shares of Salesforce by 5.2% in the third quarter. Essex Savings Bank now owns 4,551 shares of the CRM provider’s stock valued at $1,246,000 after purchasing an additional 225 shares in the last quarter. Cypress Point Wealth Management LLC boosted its position in Salesforce by 4.6% during the 3rd quarter. Cypress Point Wealth Management LLC now owns 1,963 shares of the CRM provider’s stock worth $537,000 after acquiring an additional 87 shares during the period. Finally, TCTC Holdings LLC increased its stake in Salesforce by 0.4% in the 3rd quarter. TCTC Holdings LLC now owns 102,350 shares of the CRM provider’s stock valued at $28,014,000 after buying an additional 397 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

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.