Miguel Milano Sells 458 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 458 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Salesforce Trading Down 0.7 %

Shares of NYSE:CRM opened at $306.02 on Wednesday. The stock has a 50 day moving average of $331.46 and a 200 day moving average of $306.97. The company has a market cap of $292.86 billion, a PE ratio of 50.33, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. 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, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last announced 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). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter worth approximately $25,000. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new position in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Compass Financial Services Inc bought a new position in Salesforce in the 4th quarter worth approximately $30,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. BMO Capital Markets cut their price target on shares of Salesforce from $425.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. Northland Securities reiterated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Macquarie reiterated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.47.

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.