Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 5,735 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,735 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $266.22, for a total value of $1,526,771.70. Following the completion of the sale, the chief operating officer now directly owns 1,663 shares of the company’s stock, valued at $442,723.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00.
• On Wednesday, July 24th, Brian Millham sold 969 shares of Salesforce stock. The shares were sold at an average price of $253.63, for a total transaction of $245,767.47.
• On Monday, July 22nd, Brian Millham sold 2,037 shares of Salesforce stock. The shares were sold at an average price of $248.75, for a total transaction of $506,703.75.
• On Friday, June 28th, Brian Millham sold 2,018 shares of Salesforce stock. The stock was sold at an average price of $260.00, for a total value of $524,680.00.

Salesforce Trading Up 2.4 %

Shares of CRM stock opened at $270.44 on Wednesday. The company has a market capitalization of $262.06 billion, a price-to-earnings ratio of 48.64, a PEG ratio of 2.26 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $254.66 and a 200 day moving average price of $265.66. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Hedge Funds Weigh In On Salesforce

Several large investors have recently added to or reduced their stakes in CRM. Vanguard Group Inc. lifted its holdings in shares of Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares during the period. Capital World Investors raised its stake in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after purchasing an additional 457,463 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Salesforce by 5.2% in the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after purchasing an additional 736,986 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the period. Finally, Capital International Investors raised its position in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after buying an additional 407,834 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group decreased their price objective on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Truist Financial reissued a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. BMO Capital Markets raised their target price on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.73.

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.