Salesforce (NYSE:CRM) Shares Down 3.8% – Time to Sell?

Salesforce, Inc. (NYSE:CRM) shares were down 3.8% on Thursday . The stock traded as low as $328.88 and last traded at $330.01. Approximately 7,471,475 shares traded hands during trading, an increase of 19% from the average daily volume of 6,302,406 shares. The stock had previously closed at $343.18.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CRM shares. Loop Capital upped their price target on Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Truist Financial upped their price objective on Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company upped their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $341.89.

Salesforce Trading Down 3.8 %

The company has a 50-day moving average price of $299.57 and a two-hundred day moving average price of $269.87. The stock has a market cap of $315.49 billion, a P/E ratio of 57.39, a P/E/G ratio of 3.07 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Transactions at Salesforce

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. The trade was a 75.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 719 shares of the 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 transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently bought and sold shares of CRM. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter valued at about $27,000. Clear Investment Research LLC raised 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 in the last quarter. Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the 2nd quarter valued at about $33,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.