Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 897 Shares

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Salesforce Stock Up 0.8 %

NYSE:CRM traded up $1.98 on Tuesday, hitting $256.06. The stock had a trading volume of 3,892,196 shares, compared to its average volume of 6,830,894. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm’s fifty day simple moving average is $252.97 and its two-hundred day simple moving average is $275.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $248.12 billion, a P/E ratio of 46.05, a price-to-earnings-growth ratio of 2.17 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the business posted $1.15 earnings per share. Salesforce’s revenue was up 10.7% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Macquarie decreased their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Morgan Stanley decreased their target price on Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Thursday, May 30th. Robert W. Baird reduced their price objective on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, BMO Capital Markets dropped their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Institutional Trading of Salesforce

A number of large investors have recently added to or reduced their stakes in the stock. Graypoint LLC grew its position in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares during the period. Chase Investment Counsel Corp raised its holdings in shares of Salesforce by 0.3% in the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares during the period. JFS Wealth Advisors LLC lifted its stake in Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC grew its holdings in Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the period. Finally, Fox Hill Wealth Management increased its position in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors 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.