Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy Sells 65 Shares

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 65 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total value of $17,210.70. Following the completion of the sale, the chief accounting officer now owns 6,509 shares of the company’s stock, valued at approximately $1,723,453.02. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Salesforce Trading Down 1.0 %

NYSE CRM traded down $2.59 during trading on Monday, hitting $264.21. The stock had a trading volume of 6,021,441 shares, compared to its average volume of 6,573,043. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $256.02 billion, a price-to-earnings ratio of 47.52, a P/E/G 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 stock has a 50 day simple moving average of $254.37 and a 200 day simple moving average of $265.91.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The business 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 firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Loop Capital reiterated a “hold” rating and issued a $270.00 price target on shares of Salesforce in a research note on Thursday. Canaccord Genuity Group increased their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday. Finally, Roth Mkm restated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $306.00.

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently modified their holdings of CRM. Gilbert & Cook Inc. raised its stake in shares of Salesforce by 6.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock valued at $1,489,000 after acquiring an additional 366 shares in the last quarter. Aveo Capital Partners LLC raised its stake in shares of Salesforce by 44.7% during the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock valued at $422,000 after acquiring an additional 496 shares in the last quarter. 9258 Wealth Management LLC raised its stake in shares of Salesforce by 24.0% during the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock valued at $1,706,000 after acquiring an additional 1,253 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in Salesforce by 32.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock valued at $1,064,000 after buying an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC increased its holdings in Salesforce by 1.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock valued at $2,115,000 after buying an additional 133 shares during the period. Institutional investors own 80.43% of the company’s stock.

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.