Salesforce, Inc. (NYSE:CRM) COO Sells $512,867.34 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 1,679 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $512,867.34. Following the completion of the sale, the chief operating officer now owns 1,663 shares in the company, valued at approximately $507,979.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, March 22nd, Brian Millham sold 14,516 shares of Salesforce stock. The shares were sold at an average price of $309.32, for a total value of $4,490,089.12.
• On Thursday, February 22nd, Brian Millham sold 14,517 shares of Salesforce stock. The shares were sold at an average price of $292.50, for a total value of $4,246,222.50.
• On Wednesday, January 24th, Brian Millham sold 393 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total value of $110,040.00.
• On Monday, January 22nd, Brian Millham sold 14,515 shares of Salesforce stock. The shares were sold at an average price of $284.00, for a total value of $4,122,260.00.
• On Friday, January 19th, Brian Millham sold 293,965 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total value of $82,310,200.00.

Salesforce Trading Down 1.4 %

Shares of Salesforce stock opened at $301.41 on Thursday. The firm has a market cap of $292.37 billion, a price-to-earnings ratio of 71.76, a PEG ratio of 2.35 and a beta of 1.28. The business has a 50-day moving average price of $293.59 and a 200-day moving average price of $251.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $187.31 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s dividend payout ratio is currently 9.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Fairfield Bush & CO. grew its position in Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after acquiring an additional 357 shares in the last quarter. Roundview Capital LLC grew its position in Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after acquiring an additional 3,809 shares in the last quarter. Covestor Ltd grew its position in Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after acquiring an additional 186 shares in the last quarter. Ergoteles LLC purchased a new position in Salesforce in the first quarter worth about $455,000. Finally, Mackenzie Financial Corp grew its position in Salesforce by 21.3% in the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock worth $182,797,000 after acquiring an additional 151,440 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Evercore ISI raised their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Wolfe Research upgraded Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target on the stock in a research note on Monday, December 18th. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $290.00 to $350.00 in a research note on Thursday, December 21st. UBS Group raised their price target on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, Bank of America raised their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $304.32.

About Salesforce

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.