Salesforce (NYSE:CRM) Shares Down 3.2% – Time to Sell?

Salesforce, Inc. (NYSE:CRM) dropped 3.2% on Friday . The stock traded as low as $316.23 and last traded at $316.39. Approximately 2,461,033 shares changed hands during trading, a decline of 42% from the average daily volume of 4,229,465 shares. The stock had previously closed at $326.90.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CRM shares. Oppenheimer restated an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Loop Capital lifted their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research note on Monday, January 6th. Jefferies Financial Group raised their price target on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, TD Cowen upped their price objective on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Stock Down 2.8 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $304.16 billion, a PE ratio of 52.27, a P/E/G ratio of 3.21 and a beta of 1.30. The business has a 50-day moving average of $335.82 and a 200 day moving average of $289.40.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research 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 given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,181,817 shares of company stock worth $404,760,429 over the last quarter. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRM. Aviance Capital Partners LLC increased its holdings in Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after buying an additional 33 shares during the period. EWA LLC increased its stake in Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares in the last quarter. Umpqua Bank raised its stake in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the last quarter. Principal Street Partners LLC lifted its holdings in shares of Salesforce by 1.0% during the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after purchasing an additional 34 shares during the period. Finally, Nvwm LLC lifted its stake in Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after acquiring an additional 36 shares during the period. Institutional investors own 80.43% of the company’s stock.

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.