Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 1,785 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now directly owns 29,190 shares in the company, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Salesforce Stock Performance

CRM traded down $3.11 during trading on Thursday, reaching $277.88. 3,755,356 shares of the company were exchanged, compared to its average volume of 6,389,262. The stock has a market cap of $267.04 billion, a P/E ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35. The firm has a 50 day moving average of $310.49 and a 200 day moving average of $310.51. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the fourth quarter valued at $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 increased its stake in 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 in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth about $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target for the company. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Scotiabank reduced their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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.