Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 4,096 Shares

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 4,096 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $1,118,822.40. Following the completion of the sale, the chief financial officer now owns 49,290 shares of the company’s stock, valued at $13,463,563.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Salesforce Stock Performance

NYSE CRM opened at $276.63 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $296.91 and a 200 day simple moving average of $263.28. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The company has a market capitalization of $268.33 billion, a price-to-earnings ratio of 65.86, a PEG ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. 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 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is currently 9.52%.

Institutional Trading of Salesforce

A number of large investors have recently bought and sold shares of CRM. Charter Oak Capital Management LLC increased its stake in Salesforce by 51.3% in the 1st quarter. Charter Oak Capital Management LLC now owns 9,036 shares of the CRM provider’s stock valued at $2,722,000 after buying an additional 3,062 shares during the last quarter. Canal Capital Management LLC increased its stake in Salesforce by 7.3% in the 1st quarter. Canal Capital Management LLC now owns 12,679 shares of the CRM provider’s stock valued at $3,819,000 after buying an additional 862 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Salesforce during the 1st quarter worth approximately $227,000. BSW Wealth Partners increased its stake in shares of Salesforce by 2.7% during the 1st quarter. BSW Wealth Partners now owns 3,210 shares of the CRM provider’s stock worth $967,000 after purchasing an additional 84 shares during the last quarter. Finally, Milestone Asset Management LLC increased its stake in shares of Salesforce by 313.9% during the 1st quarter. Milestone Asset Management LLC now owns 3,369 shares of the CRM provider’s stock worth $1,015,000 after purchasing an additional 2,555 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Wedbush upped their target price on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Stifel Nicolaus restated a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. Argus upped their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Wolfe Research restated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company upped their target price on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

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.