Salesforce (NYSE:CRM) Trading Down 0.4% – Should You Sell?

Salesforce, Inc. (NYSE:CRM)’s share price dropped 0.4% on Friday . The company traded as low as $356.46 and last traded at $356.46. Approximately 1,659,083 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 6,390,628 shares. The stock had previously closed at $358.03.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Macquarie initiated coverage on Salesforce in a research note on Thursday. They issued a “neutral” rating and a $370.00 price objective for the company. Barclays upped their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Guggenheim restated a “neutral” rating on shares of Salesforce in a report on Wednesday, December 4th. Finally, TD Cowen upped their target price on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $377.24.

Salesforce Trading Down 1.2 %

The company has a fifty day simple moving average of $316.14 and a 200-day simple moving average of $275.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $338.40 billion, a price-to-earnings ratio of 58.63, a P/E/G ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 138,498 shares of company stock worth $40,983,349. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Salesforce

Hedge funds have recently bought and sold shares of the stock. Legacy Wealth Management LLC MS acquired a new position in shares of Salesforce during the 3rd quarter worth about $210,000. Garden State Investment Advisory Services LLC raised its position in shares of Salesforce by 28.0% in the third quarter. Garden State Investment Advisory Services LLC now owns 3,274 shares of the CRM provider’s stock valued at $898,000 after purchasing an additional 717 shares during the period. Copley Financial Group Inc. bought a new stake in shares of Salesforce during the 3rd quarter worth about $463,000. Oddo BHF Asset Management Sas acquired a new stake in Salesforce during the third quarter worth approximately $15,894,000. Finally, Inspire Trust Co. N.A. acquired a new position in Salesforce in the 3rd quarter valued at $821,000. 80.43% of the stock is currently 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.