Amy E. Weaver Sells 6,221 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Salesforce Price Performance

CRM stock opened at $338.45 on Friday. The firm’s 50-day moving average price is $328.28 and its two-hundred day moving average price is $282.57. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market capitalization of $323.90 billion, a price-to-earnings ratio of 55.67, a PEG ratio of 3.21 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. Salesforce’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Wall Street Analyst Weigh In

CRM has been the subject of several research analyst reports. Jefferies Financial Group raised their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Finally, Bank of America raised their price objective on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $378.86.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently modified their holdings of the company. Aviance Capital Partners LLC boosted its stake in shares of Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after purchasing an additional 33 shares in the last quarter. EWA LLC boosted its stake in shares of Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares in the last quarter. Umpqua Bank boosted its stake in shares of Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares in the last quarter. Principal Street Partners LLC boosted its stake in shares of Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after purchasing an additional 34 shares in the last quarter. Finally, Nvwm LLC boosted its stake in shares of Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.