Salesforce, Inc. (NYSE:CRM) COO Sells $1,785,149.75 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 6,161 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the sale, the chief operating officer now owns 969 shares of the company’s stock, valued at $280,767.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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 transaction 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 transaction of $245,767.47.

Salesforce Price Performance

Shares of NYSE:CRM opened at $286.74 on Friday. The firm has a market cap of $277.85 billion, a price-to-earnings ratio of 51.70, a P/E/G ratio of 2.61 and a beta of 1.30. The firm has a fifty day moving average price of $268.70 and a 200 day moving average price of $263.24. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 earnings per share. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Robert W. Baird upped their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Canaccord Genuity Group lifted their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Oppenheimer reissued an “outperform” rating and set a $330.00 target price (up previously from $300.00) on shares of Salesforce in a report on Thursday. Truist Financial reiterated a “buy” rating and issued a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $312.51.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently made changes to their positions in the company. Ruedi Wealth Management Inc. grew its stake in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its position in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC bought a new stake in Salesforce during the first quarter valued at about $33,000. Finally, Stephens Consulting LLC grew its position in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

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.