Salesforce, Inc. (NYSE:CRM) Insider R David Schmaier Sells 8,281 Shares

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 8,281 shares of Salesforce stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $2,261,955.15. Following the sale, the insider now directly owns 18,787 shares of the company’s stock, valued at $5,131,669.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

R David Schmaier also recently made the following trade(s):

• On Tuesday, April 16th, R David Schmaier sold 3,910 shares of Salesforce stock. The stock was sold at an average price of $274.77, for a total value of $1,074,350.70.

Salesforce Stock Performance

CRM opened at $276.63 on Wednesday. The business’s 50-day simple moving average is $296.91 and its 200 day simple moving average is $263.28. The firm has a market capitalization of $268.33 billion, a PE ratio of 65.86, a PEG ratio of 2.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently bought and sold shares of the business. Bear Mountain Capital Inc. acquired a new position in Salesforce during the fourth quarter worth approximately $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Red Tortoise LLC acquired a new position in shares of Salesforce in the first quarter valued at approximately $33,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CRM. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Piper Sandler reiterated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, April 15th. Truist Financial reiterated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

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.