Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells $1,118,822.40 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 4,096 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $1,118,822.40. Following the sale, the chief financial officer now directly owns 49,290 shares of the company’s stock, valued at approximately $13,463,563.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Salesforce Stock Down 1.1 %

CRM stock opened at $273.09 on Friday. The stock has a market cap of $264.90 billion, a P/E ratio of 65.02, a P/E/G ratio of 2.13 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $296.28 and its two-hundred day simple moving average is $263.44. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last issued 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. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the firm earned $1.01 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce during the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce in the fourth quarter worth about $31,000. Pacifica Partners Inc. raised its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Finally, Red Tortoise LLC purchased a new stake in shares of Salesforce during the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRM shares. BMO Capital Markets increased their price target on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Jefferies Financial Group raised their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Monday. Mizuho reiterated a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Robert W. Baird increased their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Argus boosted their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.