Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells 897 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $2.13 during trading on Thursday, hitting $334.75. The stock had a trading volume of 4,351,873 shares, compared to its average volume of 5,399,249. The stock has a 50-day simple moving average of $336.50 and a two-hundred day simple moving average of $293.20. The stock has a market capitalization of $320.36 billion, a price-to-earnings ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRM shares. Needham & Company LLC raised their price target on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial restated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its stake in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Legal & General Group Plc boosted its stake in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after acquiring an additional 57,825 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.