Srinivas Tallapragada Sells 438 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM – Get Rating) insider Srinivas Tallapragada sold 438 shares of the stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $155.59, for a total transaction of $68,148.42. Following the transaction, the insider now owns 51,819 shares of the company’s stock, valued at approximately $8,062,518.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Salesforce Stock Performance

NYSE:CRM opened at $155.87 on Tuesday. The stock has a market cap of $155.87 billion, a P/E ratio of 556.68, a price-to-earnings-growth ratio of 3.79 and a beta of 1.15. The firm’s fifty day simple moving average is $141.29 and its 200 day simple moving average 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.

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

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC bought a new stake in Salesforce in the fourth quarter valued at $211,000. Meridian Wealth Advisors LLC boosted its holdings in shares of Salesforce by 20.9% during the 4th quarter. Meridian Wealth Advisors LLC now owns 15,105 shares of the CRM provider’s stock valued at $2,003,000 after buying an additional 2,611 shares in the last quarter. Alliance Wealth Advisors LLC boosted its holdings in shares of Salesforce by 7.2% during the 4th quarter. Alliance Wealth Advisors LLC now owns 1,758 shares of the CRM provider’s stock valued at $233,000 after buying an additional 118 shares in the last quarter. Timber Creek Capital Management LLC boosted its holdings in shares of Salesforce by 66.9% during the 4th quarter. Timber Creek Capital Management LLC now owns 24,980 shares of the CRM provider’s stock valued at $3,312,000 after buying an additional 10,010 shares in the last quarter. Finally, Catalyst Private Wealth LLC boosted its holdings in shares of Salesforce by 43.7% during the 4th quarter. Catalyst Private Wealth LLC now owns 2,933 shares of the CRM provider’s stock valued at $389,000 after buying an additional 892 shares in the last quarter. Institutional investors own 75.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRM shares. Truist Financial cut their price objective on shares of Salesforce from $240.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, December 1st. Barclays cut their price objective on shares of Salesforce from $193.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, December 1st. Wedbush cut their price objective on shares of Salesforce from $215.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, December 1st. Piper Sandler cut their price objective on shares of Salesforce from $175.00 to $171.00 and set an “overweight” rating for the company in a research report on Monday, January 9th. Finally, StockNews.com raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Thursday, December 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target 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.