Shares of Salesforce (NYSE:CRM) fell 0.1% after insider selling

Salesforce, Inc. stock price (NYSE:CRM ​​​​- Get Free Report ) traded down 0.1% on Thursday, following domestic selling activity. The stock traded as high as $260.50 and last traded at $260.74. 1,047,350 shares changed hands in mid-day trading, down 84% from the session’s average volume of 6,548,612 shares. Shares previously closed at $261.09.

Specifically, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website.

Analysts on Wall Street are forecasting an increase

Several analysts recently weighed in on the stock. Macquarie decreased their price objective on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. DA Davidson lowered their price objective on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Truist Financial restated a “buy” rating and set a $300.00 price objective (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research report on Thursday, May 30th. Finally, BMO Capital Markets reduced their price objective on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, 30 May. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $291.50, based on data from MarketBeat.com.

Check out our latest CRM analysis

Salesforce Price Performance

The company’s 50-day moving average price is $251.45, and its two-hundred-day moving average price is $272.39. The stock has a market cap of $250.69 billion, a P/E ratio of 46.53, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11, and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM ​​- Get Your Free Report) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. In the same quarter last year, the firm posted EPS of $1.15. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect Salesforce, Inc. to post 7.47 earnings per share for the current fiscal year.

Salesforce announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a dividend of $0.40 per share. This represents an annualized dividend of $1.60 and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s payout ratio is currently 28.78%.

Institutional investors are weighing in on Salesforce

Hedge funds have recently bought and sold shares of the company. Signature Resources Capital Management LLC bought a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Finally, Red Tortoise LLC acquired a new position in Salesforce during the first quarter worth approximately $33,000. Institutional investors own 80.43% of the company’s shares.

About Salesforce

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Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together around the world. The company’s services include sales for data storage, lead and progress tracking, opportunity forecasting, analytics and artificial intelligence insights, and delivery of quotes, contracts and invoices; and services that enable companies to deliver reliable and highly personalized customer support at scale.

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