Salesforce, Inc. (NYSE:CRM) COO Brian Millham Sells 708 Shares

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 708 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. This trade represents a 36.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Brian Millham also recently made the following trade(s):

• On Monday, December 23rd, Brian Millham sold 16,487 shares of Salesforce stock. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16.
• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00.

Salesforce Trading Up 0.6 %

Shares of Salesforce stock opened at $334.75 on Friday. The company has a market capitalization of $320.36 billion, a P/E ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. The stock has a fifty day simple moving average of $336.50 and a 200 day simple moving average of $293.20. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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 posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s payout ratio is presently 26.32%.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price target 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. Scotiabank upped their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research note on Monday, January 6th. Finally, Needham & Company LLC boosted their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $377.63.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently modified their holdings of the business. Gabelli Funds LLC boosted its holdings in shares of Salesforce by 11.9% in the 2nd quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock worth $618,000 after buying an additional 255 shares during the last quarter. Sfmg LLC raised its position in Salesforce by 24.9% in the second quarter. Sfmg LLC now owns 23,264 shares of the CRM provider’s stock worth $5,981,000 after acquiring an additional 4,635 shares during the period. Insigneo Advisory Services LLC boosted its stake in Salesforce by 403.4% in the second quarter. Insigneo Advisory Services LLC now owns 11,836 shares of the CRM provider’s stock valued at $2,829,000 after acquiring an additional 9,485 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Salesforce by 16.1% during the 2nd quarter. Toronto Dominion Bank now owns 736,459 shares of the CRM provider’s stock valued at $189,344,000 after acquiring an additional 102,358 shares during the period. Finally, Unisphere Establishment increased its stake in shares of Salesforce by 13.9% during the 2nd quarter. Unisphere Establishment now owns 559,000 shares of the CRM provider’s stock worth $143,719,000 after purchasing an additional 68,250 shares during the last quarter. 80.43% of the stock is owned by 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.