Salesforce, Inc. (NYSE:CRM) CFO Sells $1,118,822.40 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 4,096 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $1,118,822.40. Following the sale, the chief financial officer now directly owns 49,290 shares in the company, valued at approximately $13,463,563.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Salesforce Stock Up 1.0 %

Shares of CRM stock opened at $276.63 on Wednesday. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The stock has a market cap of $268.33 billion, a P/E ratio of 65.86, a P/E/G ratio of 2.08 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $296.91 and a two-hundred day simple moving average of $263.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Ratings Changes

Several research firms recently commented on CRM. Wedbush boosted their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Truist Financial reissued a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. BMO Capital Markets upped their target price on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Citigroup upped their target price on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.61.

Institutional Trading of Salesforce

A number of hedge funds and other institutional investors have recently modified their holdings of CRM. Naples Global Advisors LLC increased its stake in shares of Salesforce by 16.5% in the third quarter. Naples Global Advisors LLC now owns 2,557 shares of the CRM provider’s stock worth $519,000 after purchasing an additional 363 shares in the last quarter. Traynor Capital Management Inc. grew its stake in Salesforce by 8.8% during the third quarter. Traynor Capital Management Inc. now owns 1,299 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 105 shares in the last quarter. Capital Investment Advisors LLC grew its stake in Salesforce by 15.1% during the third quarter. Capital Investment Advisors LLC now owns 6,584 shares of the CRM provider’s stock valued at $1,335,000 after acquiring an additional 864 shares in the last quarter. Montecito Bank & Trust purchased a new position in Salesforce during the third quarter valued at $248,000. Finally, Impact Partnership Wealth LLC grew its stake in Salesforce by 226.5% during the third quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock valued at $65,000 after acquiring an additional 222 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.