Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells 510 Shares of Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CFO Amy E. Weaver sold 510 shares of the firm’s stock in a transaction on Monday, April 25th. The shares were sold at an average price of $171.68, for a total transaction of $87,556.80. Following the completion of the transaction, the chief financial officer now directly owns 29,075 shares in the company, valued at approximately $4,991,596. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Salesforce stock traded up $3.14 during trading hours on Monday, reaching $174.57. 7,932,726 shares of the stock were exchanged, compared to its average volume of 7,314,273. The company has a market cap of $172.82 billion, a P/E ratio of 116.38, a price-to-earnings-growth ratio of 5.05 and a beta of 1.10. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. Salesforce, Inc. has a twelve month low of $169.23 and a twelve month high of $311.75. The stock has a 50 day moving average of $201.95 and a two-hundred day moving average of $240.62.

Salesforce (NYSE:CRMGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. The firm had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.24 billion. During the same period in the prior year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 2.1 earnings per share for the current fiscal year.

CRM has been the subject of several analyst reports. Zacks Investment Research downgraded Salesforce from a “strong-buy” rating to a “hold” rating and set a $244.00 target price for the company. in a research report on Tuesday, February 1st. Stifel Nicolaus decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. The Goldman Sachs Group set a $360.00 price objective on shares of Salesforce and gave the company a “buy” rating in a research report on Wednesday, March 2nd. Robert W. Baird decreased their price objective on shares of Salesforce from $315.00 to $300.00 in a research report on Wednesday, March 2nd. Finally, Citigroup boosted their target price on shares of Salesforce from $220.00 to $233.00 in a research note on Wednesday, March 2nd. Seven investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $299.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Salesforce during the third quarter worth about $6,789,000. Voya Investment Management LLC raised its stake in Salesforce by 1.0% during the third quarter. Voya Investment Management LLC now owns 372,747 shares of the CRM provider’s stock worth $101,097,000 after acquiring an additional 3,858 shares in the last quarter. Candlestick Capital Management LP grew its stake in shares of Salesforce by 719.0% during the third quarter. Candlestick Capital Management LP now owns 203,204 shares of the CRM provider’s stock worth $55,113,000 after buying an additional 178,392 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Salesforce by 1.6% during the fourth quarter. Trust Co. of Vermont now owns 34,489 shares of the CRM provider’s stock worth $8,765,000 after buying an additional 528 shares during the last quarter. Finally, Veritable L.P. grew its stake in shares of Salesforce by 2.9% during the third quarter. Veritable L.P. now owns 17,026 shares of the CRM provider’s stock worth $4,618,000 after buying an additional 482 shares during the last quarter. Hedge funds and other institutional investors own 77.16% of the company’s stock.

About Salesforce (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Insider Buying and Selling by Quarter for Salesforce (NYSE:CRM)

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