Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 271 Shares of Stock

Salesforce, Inc. (NYSE:CRM – Get Rating) COO Brian Millham sold 271 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $155.59, for a total transaction of $42,164.89. Following the sale, the chief operating officer now owns 8,351 shares of the company’s stock, valued at $1,299,332.09. 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, December 23rd, Brian Millham sold 976 shares of Salesforce stock. The shares were sold at an average price of $128.55, for a total transaction of $125,464.80.

Salesforce Price Performance

Shares of NYSE:CRM opened at $155.87 on Tuesday. The firm’s 50 day moving average price is $141.29 and its 200-day moving average price is $155.70. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month high of $234.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $155.87 billion, a PE ratio of 556.68, a price-to-earnings-growth ratio of 3.79 and a beta of 1.15.

Salesforce (NYSE:CRM – Get Rating) last issued its quarterly earnings data on Wednesday, November 30th. The CRM provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.15. Salesforce had a net margin of 0.92% and a return on equity of 3.21%. The firm had revenue of $7.84 billion for the quarter, compared to analysts’ expectations of $7.83 billion. During the same quarter in the prior year, the business earned $0.78 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts expect that Salesforce, Inc. will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently made changes to their positions in the business. Oak Harvest Investment Services raised its stake in Salesforce by 1.1% during the 2nd quarter. Oak Harvest Investment Services now owns 32,360 shares of the CRM provider’s stock worth $5,341,000 after acquiring an additional 339 shares during the period. Legacy Wealth Asset Management LLC raised its stake in Salesforce by 40.3% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,383 shares of the CRM provider’s stock worth $393,000 after acquiring an additional 685 shares during the period. Verition Fund Management LLC raised its stake in Salesforce by 1,014.8% during the 2nd quarter. Verition Fund Management LLC now owns 32,386 shares of the CRM provider’s stock worth $5,345,000 after acquiring an additional 29,481 shares during the period. HB Wealth Management LLC raised its stake in Salesforce by 41.2% during the 2nd quarter. HB Wealth Management LLC now owns 9,760 shares of the CRM provider’s stock worth $1,611,000 after acquiring an additional 2,847 shares during the period. Finally, Stephens Inc. AR raised its stake in Salesforce by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 137,757 shares of the CRM provider’s stock worth $19,815,000 after acquiring an additional 656 shares during the period. Institutional investors own 75.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CRM shares. StockNews.com upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Thursday, December 8th. Oppenheimer decreased their price objective on shares of Salesforce from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Thursday, December 1st. Wolfe Research lowered shares of Salesforce from an “outperform” rating to a “market perform” rating in a report on Thursday, December 1st. Piper Sandler decreased their price objective on shares of Salesforce from $175.00 to $171.00 and set an “overweight” rating for the company in a report on Monday, January 9th. Finally, Evercore ISI decreased their price objective on shares of Salesforce from $225.00 to $200.00 in a report on Monday, November 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.81.

About Salesforce

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Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.