Salesforce (NYSE:CRM) Stock Price Down 0.2% – Should You Sell?

Salesforce, Inc. (NYSE:CRM)’s share price dropped 0.2% during mid-day trading on Tuesday . The company traded as low as $323.65 and last traded at $330.31. Approximately 2,503,109 shares were traded during trading, a decline of 60% from the average daily volume of 6,272,413 shares. The stock had previously closed at $331.01.

Analyst Upgrades and Downgrades

CRM has been the topic of several research reports. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Jefferies Financial Group increased their price objective on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Scotiabank initiated coverage on shares of Salesforce in a report on Monday, November 18th. They set a “sector outperform” rating and a $425.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $345.31.

Salesforce Trading Down 0.2 %

The firm has a market cap of $315.66 billion, a price-to-earnings ratio of 57.45, a price-to-earnings-growth ratio of 2.99 and a beta of 1.30. The business has a 50 day moving average of $302.12 and a 200 day moving average of $270.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,982 shares of company stock worth $41,591,457 over the last quarter. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of CRM. Inspire Trust Co. N.A. acquired a new stake in Salesforce in the 3rd quarter valued at approximately $821,000. Beaird Harris Wealth Management LLC raised its holdings in shares of Salesforce by 1,639.5% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 661 shares of the CRM provider’s stock worth $181,000 after purchasing an additional 623 shares in the last quarter. Tidal Investments LLC grew its position in Salesforce by 37.6% in the third quarter. Tidal Investments LLC now owns 196,584 shares of the CRM provider’s stock worth $53,807,000 after buying an additional 53,739 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Salesforce by 7.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 43,812 shares of the CRM provider’s stock valued at $11,992,000 after buying an additional 3,021 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new stake in shares of Salesforce during the 3rd quarter worth $380,000. 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.