Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 5,735 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,735 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $266.22, for a total value of $1,526,771.70. Following the completion of the transaction, the chief operating officer now directly owns 1,663 shares in the company, valued at $442,723.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00.
• On Wednesday, July 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $253.63, for a total transaction of $245,767.47.
• On Monday, July 22nd, Brian Millham sold 2,037 shares of Salesforce stock. The shares were sold at an average price of $248.75, for a total transaction of $506,703.75.
• On Friday, June 28th, Brian Millham sold 2,018 shares of Salesforce stock. The shares were sold at an average price of $260.00, for a total value of $524,680.00.

Salesforce Stock Down 1.0 %

Shares of CRM stock traded down $2.59 during trading on Monday, reaching $264.21. The company’s stock had a trading volume of 6,021,441 shares, compared to its average volume of 6,573,043. The company has a market cap of $256.02 billion, a price-to-earnings ratio of 47.52, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business has a fifty day moving average price of $254.37 and a 200-day moving average price of $265.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 EPS. Analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently added to or reduced their stakes in CRM. Capital International Investors boosted its holdings in shares of Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares during the period. Capital Research Global Investors lifted its holdings in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Salesforce in the first quarter valued at about $910,220,000. Swedbank AB acquired a new position in shares of Salesforce in the first quarter valued at about $874,748,000. Finally, Coatue Management LLC acquired a new stake in Salesforce in the 4th quarter worth about $564,188,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CRM. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Piper Sandler upped their target price on shares of Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Raymond James raised their price target 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. Bank of America reiterated a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research note on Friday, September 6th. Finally, Barclays cut their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $306.00.

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.