Salesforce, Inc. (NYSE:CRM) Insider Miguel Milano Sells 2,934 Shares

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 2,934 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total transaction of $771,495.30. Following the completion of the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Salesforce Trading Up 2.1 %

NYSE:CRM opened at $263.92 on Friday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The firm has a fifty day simple moving average of $252.09 and a 200-day simple moving average of $272.22. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $255.74 billion, a P/E ratio of 47.47, a PEG ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. Truist Financial reissued a “buy” rating and set a $300.00 price objective (down previously from $360.00) on shares of Salesforce in a report on Thursday, May 30th. Citigroup reduced their price objective on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Barclays reduced their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Evercore ISI reduced their price objective on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Finally, Piper Sandler reissued a “neutral” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $291.50.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Chase Investment Counsel Corp grew its position in Salesforce by 0.3% during 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 last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 36 shares in the last quarter. Fox Hill Wealth Management boosted its holdings in shares of Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares in the last quarter. Finally, Glassman Wealth Services boosted its holdings in shares of Salesforce by 2.9% in the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.