Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells $2,188,439.00 in Stock

Salesforce, Inc. (NYSE:CRMGet Free Report) CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the sale, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Salesforce Stock Performance

Shares of CRM stock opened at $307.77 on Monday. Salesforce, Inc. has a 12 month low of $185.58 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $298.54 billion, a P/E ratio of 73.28, a P/E/G ratio of 2.37 and a beta of 1.28. The company’s fifty day moving average price is $292.17 and its two-hundred day moving average price is $250.60.

Salesforce (NYSE:CRMGet Free Report) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. Raymond James lifted their price target on Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 30th. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $290.00 to $350.00 in a report on Thursday, December 21st. Piper Sandler reissued a “neutral” rating and set a $285.00 price objective on shares of Salesforce in a research note on Wednesday, February 28th. UBS Group lifted their price objective on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, Wells Fargo & Company lifted their price objective on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $304.32.

Check Out Our Latest Stock Report on Salesforce

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of the stock. Bear Mountain Capital Inc. acquired a new stake in Salesforce during the fourth quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the fourth quarter worth about $26,000. Union Savings Bank acquired a new stake in Salesforce during the second quarter worth about $27,000. Aspect Partners LLC acquired a new stake in Salesforce during the fourth quarter worth about $29,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 77.52% of the company’s stock.

About Salesforce

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Salesforce (NYSE:CRM)

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