Salesforce, Inc. (NYSE:CRM) CAO Sells $543,263.22 in Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. This represents a 14.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Salesforce Stock Performance

CRM stock opened at $277.88 on Friday. The company has a market capitalization of $267.04 billion, a price-to-earnings ratio of 45.70, a P/E/G ratio of 2.58 and a beta of 1.35. The firm has a 50 day moving average of $310.49 and a two-hundred day moving average of $310.51. 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, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.60%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 25.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. Macquarie reissued a “neutral” rating and set a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Wells Fargo & Company dropped their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Bank of America decreased their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $362.74.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently bought and sold shares of the stock. Foundations Investment Advisors LLC raised its stake in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce in the third quarter valued at approximately $1,215,000. Athena Investment Management acquired a new stake in shares of Salesforce in the fourth quarter worth $236,000. Highland Capital Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth $4,321,000. Finally, Geode Capital Management LLC grew its stake in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the last quarter. 80.43% of the stock is currently owned by 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.