Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 16,487 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 16,487 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the transaction, the chief operating officer now owns 1,662 shares in the company, valued at approximately $566,210.16. This trade represents a 90.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Brian Millham also recently made the following trade(s):

• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00.
• On Thursday, October 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $286.56, for a total value of $277,676.64.
• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00.

Salesforce Trading Down 0.2 %

Salesforce stock traded down $0.75 during midday trading on Monday, reaching $342.90. 5,329,221 shares of the stock traded hands, compared to its average volume of 6,448,090. 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 cap of $328.16 billion, a PE ratio of 56.40, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a 50-day simple moving average of $323.14 and a two-hundred day simple moving average of $279.61. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bailard Inc. lifted its stake in Salesforce by 1.5% in the second quarter. Bailard Inc. now owns 20,380 shares of the CRM provider’s stock worth $5,240,000 after acquiring an additional 310 shares during the last quarter. SlateStone Wealth LLC raised its holdings in shares of Salesforce by 10.2% in the 2nd quarter. SlateStone Wealth LLC now owns 1,673 shares of the CRM provider’s stock valued at $430,000 after purchasing an additional 155 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Salesforce by 3.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,445 shares of the CRM provider’s stock worth $886,000 after purchasing an additional 101 shares during the last quarter. Worth Financial Advisory Group LLC grew its stake in shares of Salesforce by 34.1% during the second quarter. Worth Financial Advisory Group LLC now owns 2,362 shares of the CRM provider’s stock worth $607,000 after purchasing an additional 601 shares in the last quarter. Finally, WealthShield Partners LLC increased its holdings in Salesforce by 11.4% in the second quarter. WealthShield Partners LLC now owns 10,019 shares of the CRM provider’s stock valued at $2,576,000 after buying an additional 1,024 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Raymond James raised their price objective on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Phillip Securities restated an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Canaccord Genuity Group increased their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group increased their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.86.

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.