Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells $1,611,251.28 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 5,864 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the completion of the transaction, the chief financial officer now owns 45,231 shares of the company’s stock, valued at approximately $12,428,121.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Salesforce Stock Performance

NYSE CRM opened at $270.45 on Friday. The stock has a market cap of $262.34 billion, a PE ratio of 64.39, a P/E/G ratio of 2.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day moving average of $297.28 and a 200-day moving average of $261.43. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CRM shares. JMP Securities reiterated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a report on Monday, April 15th. Wedbush increased their price objective on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Robert W. Baird lifted their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, KeyCorp started coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the company. Walkner Condon Financial Advisors LLC boosted its holdings in Salesforce by 2.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after purchasing an additional 74 shares during the period. Roman Butler Fullerton & Co. raised its position in shares of Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after buying an additional 105 shares in the last quarter. Pure Financial Advisors LLC bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $214,000. Riversedge Advisors LLC grew its position in Salesforce by 21.7% during the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after buying an additional 420 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new position in Salesforce during the 3rd quarter worth $2,499,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.