Insider Selling: Salesforce, Inc. (NYSE:CRM) CAO Sells 500 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Salesforce Trading Down 0.2 %

NYSE CRM opened at $297.53 on Wednesday. Salesforce, Inc. has a 52 week low of $204.69 and a 52 week high of $318.71. The business has a 50 day moving average price of $274.34 and a 200-day moving average price of $263.56. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $284.44 billion, a price-to-earnings ratio of 51.74, a P/E/G ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for 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 business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 earnings per share. As a group, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. XN LP lifted its stake in Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after acquiring an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after purchasing an additional 2,589 shares in the last quarter. M&G Plc purchased a new position in Salesforce during the first quarter worth about $2,178,000. First Foundation Advisors increased its stake in Salesforce by 38.0% in the 1st quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after buying an additional 228 shares during the last quarter. Finally, Elevated Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter worth approximately $523,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRM. Wells Fargo & Company boosted their price target on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. Wedbush boosted their target price on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Loop Capital reiterated a “hold” rating and set a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. BMO Capital Markets boosted their price objective on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $330.00 target price (up previously from $300.00) on shares of Salesforce in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $313.37.

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.