Salesforce, Inc. (NYSE:CRM) CEO Brian Millham Sells 3,937 Shares

Salesforce, Inc. (NYSE:CRM) CEO Brian Millham sold 3,937 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at $1,570,312.44. The trade was a 41.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, January 23rd, Brian Millham sold 708 shares of Salesforce stock. The shares were sold at an average price of $332.28, for a total value of $235,254.24.

Salesforce Stock Performance

Shares of NYSE CRM opened at $277.88 on Friday. The business’s 50-day simple moving average is $310.49 and its 200-day simple moving average is $310.51. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $267.04 billion, a price-to-earnings ratio of 45.70, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.60%. Salesforce’s dividend payout ratio is currently 25.16%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird lowered their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Barclays lifted their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank cut their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Institutional Investors Weigh In On Salesforce

A number of hedge funds have recently bought and sold shares of CRM. State Street Corp boosted its stake in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC grew its stake in shares of Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after acquiring an additional 175,035 shares during the last quarter. Fisher Asset Management LLC increased its position in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after acquiring an additional 177,321 shares during the period. Northern Trust Corp raised its stake in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after purchasing an additional 1,736,667 shares during the last quarter. Finally, Norges Bank bought a new stake in Salesforce in the 4th quarter valued at $3,599,867,000. 80.43% of the stock is currently 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.