Sundeep G. Reddy Sells 66 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 66 shares of Salesforce stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $20,160.36. Following the completion of the sale, the chief accounting officer now directly owns 5,911 shares in the company, valued at approximately $1,805,574.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $301.41 on Thursday. The company has a market cap of $292.37 billion, a price-to-earnings ratio of 71.76, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. The company has a 50-day moving average price of $293.59 and a 200-day moving average price of $251.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $187.31 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently bought and sold shares of the stock. Fairfield Bush & CO. increased its stake in shares of Salesforce by 8.7% during the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after purchasing an additional 357 shares in the last quarter. Roundview Capital LLC grew its holdings in shares of Salesforce by 18.8% during the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after buying an additional 3,809 shares during the last quarter. Covestor Ltd grew its holdings in shares of Salesforce by 42.8% during the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after buying an additional 186 shares during the last quarter. Ergoteles LLC purchased a new stake in shares of Salesforce during the first quarter valued at approximately $455,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Salesforce by 21.3% during the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after buying an additional 151,440 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. Piper Sandler reissued a “neutral” rating and set a $285.00 target price on shares of Salesforce in a report on Wednesday, February 28th. Oppenheimer boosted their target price on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Stifel Nicolaus boosted their target price on shares of Salesforce from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target for the company in a research report on Monday, December 18th. Finally, Needham & Company LLC boosted their price target on shares of Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $304.32.

About Salesforce

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.