Salesforce (NYSE:CRM) Shares Down 2.3% – Should You Sell?

Salesforce, Inc. (NYSE:CRM) shares dropped 2.3% during mid-day trading on Thursday . The company traded as low as $254.87 and last traded at $258.53. Approximately 1,847,530 shares changed hands during trading, a decline of 73% from the average daily volume of 6,756,332 shares. The stock had previously closed at $264.75.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group cut their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Macquarie reiterated a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. DA Davidson decreased their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $361.42.

Salesforce Stock Down 0.1 %

The company has a 50 day simple moving average of $289.29 and a two-hundred day simple moving average of $310.46. 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 firm has a market capitalization of $245.04 billion, a P/E ratio of 41.94, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc bought a new position in Salesforce in the 4th quarter valued at about $31,000. 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.