Salesforce, Inc. (NYSE:CRM) CFO Sells $2,052,183.48 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Salesforce Price Performance

Shares of NYSE CRM opened at $324.77 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm’s 50-day simple moving average is $337.31 and its 200 day simple moving average is $291.56. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new stake in Salesforce in the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter worth about $33,000. Godsey & Gibb Inc. raised its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Salesforce in the third quarter worth about $53,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. DA Davidson raised their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird raised their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC raised their price target on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.