Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 6,161 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total value of $1,785,149.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00.
• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The stock was sold at an average price of $266.22, for a total value of $1,526,771.70.
• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00.
• On Wednesday, July 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $253.63, for a total value of $245,767.47.

Salesforce Trading Down 1.0 %

Shares of NYSE:CRM traded down $3.05 during trading on Tuesday, hitting $288.24. The company had a trading volume of 3,099,857 shares, compared to its average volume of 6,379,897. The stock has a market cap of $279.30 billion, a price-to-earnings ratio of 51.84, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a fifty day simple moving average of $268.12 and a two-hundred day simple moving average of $263.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s payout ratio is 28.78%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Bank of America reiterated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Raymond James upped their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Truist Financial restated a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $311.66.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the business. Global Assets Advisory LLC purchased a new position in Salesforce during the 1st quarter worth $8,557,000. Mechanics Bank Trust Department purchased a new position in Salesforce during the 1st quarter worth $230,000. Fermata Advisors LLC purchased a new position in Salesforce during the 1st quarter worth $418,000. Hoxton Planning & Management LLC purchased a new position in Salesforce during the 1st quarter worth $220,000. Finally, Exchange Bank purchased a new position in Salesforce during the 1st quarter worth $229,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.