Sundeep G. Reddy Sells 500 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Salesforce Stock Up 1.4 %

Shares of NYSE:CRM opened at $344.07 on Wednesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The business has a 50 day simple moving average of $338.67 and a two-hundred day simple moving average of $298.64. The firm has a market capitalization of $329.28 billion, a PE ratio of 56.59, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (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 for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the firm earned $1.62 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently modified their holdings of CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial reaffirmed 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. DA Davidson raised their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Oppenheimer reissued an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.