Salesforce, Inc. (NYSE:CRM) COO Sells $1,619,059.10 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,801 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $279.10, for a total transaction of $1,619,059.10. Following the completion of the sale, the chief operating officer now owns 4,204 shares in the company, valued at approximately $1,173,336.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Brian Millham also recently made the following trade(s):

• On Wednesday, April 24th, Brian Millham sold 4,204 shares of Salesforce stock. The shares were sold at an average price of $278.00, for a total value of $1,168,712.00.
• On Monday, April 1st, Brian Millham sold 24,453 shares of Salesforce stock. The shares were sold at an average price of $302.08, for a total value of $7,386,762.24.
• On Monday, March 25th, Brian Millham sold 1,679 shares of Salesforce stock. The shares were sold at an average price of $305.46, for a total value of $512,867.34.
• On Friday, March 22nd, Brian Millham sold 14,516 shares of Salesforce stock. The stock was sold at an average price of $309.32, for a total transaction of $4,490,089.12.
• On Thursday, February 22nd, Brian Millham sold 14,517 shares of Salesforce stock. The stock was sold at an average price of $292.50, for a total transaction of $4,246,222.50.
• On Wednesday, January 24th, Brian Millham sold 393 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total transaction of $110,040.00.

Salesforce Price Performance

Salesforce stock opened at $273.09 on Friday. The firm has a market capitalization of $264.90 billion, a P/E ratio of 65.02, a PEG ratio of 2.13 and a beta of 1.28. Salesforce, Inc. has a one year low of $190.57 and a one year 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 business has a fifty day moving average price of $296.28 and a 200-day moving average price of $263.44.

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

Salesforce Announces Dividend

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

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marks Group Wealth Management Inc raised its position in shares of Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after buying an additional 257 shares in the last quarter. Walkner Condon Financial Advisors LLC increased its stake 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 worth $534,000 after acquiring an additional 74 shares during the last quarter. Roman Butler Fullerton & Co. increased its stake in Salesforce by 1.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after acquiring an additional 105 shares during the last quarter. Pure Financial Advisors LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at about $214,000. Finally, Riversedge Advisors LLC boosted its position in shares of Salesforce by 21.7% during the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after acquiring an additional 420 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRM. Wells Fargo & Company increased their price target on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Wedbush lifted their target price on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Stifel Nicolaus restated a “buy” rating and set a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Evercore ISI lifted their price objective on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.