Amy E. Weaver Sells 2,627 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 2,627 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $210.00, for a total value of $551,670.00. Following the transaction, the chief financial officer now directly owns 37,048 shares in the company, valued at approximately $7,780,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Salesforce Price Performance

CRM stock opened at $211.86 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. Salesforce, Inc. has a 1 year low of $126.34 and a 1 year high of $238.22. The firm has a market cap of $206.14 billion, a P/E ratio of 133.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The stock has a 50-day simple moving average of $209.19 and a 200-day simple moving average of $210.66.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. United Asset Strategies Inc. boosted its holdings in Salesforce by 352.9% in the third quarter. United Asset Strategies Inc. now owns 7,994 shares of the CRM provider’s stock valued at $1,621,000 after purchasing an additional 6,229 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its holdings in Salesforce by 0.9% in the third quarter. Adell Harriman & Carpenter Inc. now owns 43,804 shares of the CRM provider’s stock valued at $8,883,000 after purchasing an additional 412 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in Salesforce by 13.4% in the third quarter. Kingsview Wealth Management LLC now owns 71,410 shares of the CRM provider’s stock valued at $14,481,000 after purchasing an additional 8,426 shares during the last quarter. Qsemble Capital Management LP purchased a new position in Salesforce in the third quarter valued at about $3,427,000. Finally, Great Lakes Advisors LLC boosted its holdings in Salesforce by 2.5% in the third quarter. Great Lakes Advisors LLC now owns 34,837 shares of the CRM provider’s stock valued at $7,064,000 after purchasing an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Mizuho upped their price objective on Salesforce from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. Roth Mkm upped their price objective on Salesforce from $242.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. TD Cowen upped their price objective on Salesforce from $210.00 to $230.00 and gave the stock a “market perform” rating in a report on Thursday, August 31st. Raymond James upped their price objective on Salesforce from $260.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 31st. Finally, Oppenheimer boosted their target price on Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.28.

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 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.