Salesforce (NYSE:CRM) Stock Price Down 1.8%

Salesforce, Inc. (NYSE:CRM)’s stock price was down 1.8% during mid-day trading on Tuesday . The stock traded as low as $251.09 and last traded at $252.29. Approximately 2,385,649 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 6,901,455 shares. The stock had previously closed at $256.97.

Analysts Set New Price Targets

Several research analysts have issued reports on CRM shares. Deutsche Bank Aktiengesellschaft cut their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. DA Davidson cut their price target on Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. TD Cowen cut their price target on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Thursday, May 30th. Finally, Barclays lowered their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Stock Down 0.5 %

The company has a market cap of $243.42 billion, a P/E ratio of 45.44, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The company has a 50 day moving average of $257.24 and a 200-day moving average of $276.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the company earned $1.15 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.64%. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider R David Schmaier sold 3,910 shares of Salesforce stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,074,350.70. Following the transaction, the insider now owns 19,463 shares in the company, valued at $5,347,848.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 454,152 shares of company stock worth $122,552,011 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Graypoint LLC increased its holdings in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares during the period. Chase Investment Counsel Corp increased its holdings in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the period. JFS Wealth Advisors LLC increased its holdings in Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares during the period. Opes Wealth Management LLC increased its holdings in Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the period. Finally, Prentice Wealth Management LLC increased its holdings in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors 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.