Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells 897 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,534,090. This represents a 1.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Salesforce Stock Up 0.6 %

Shares of NYSE:CRM opened at $334.75 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $336.50 and its 200 day moving average is $293.20. The stock has a market cap of $320.36 billion, a P/E ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CRM shares. Canaccord Genuity Group raised their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays lifted their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Loop Capital raised their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Institutional Trading of Salesforce

Several hedge funds have recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. raised its stake in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC boosted its holdings in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce during the third quarter valued at about $53,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.