Salesforce, Inc. (NYSE:CRM) Insider R David Schmaier Sells 1,785 Shares

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Salesforce Stock Performance

NYSE CRM traded down $3.11 during midday trading on Thursday, hitting $277.88. The company had a trading volume of 3,755,356 shares, compared to its average volume of 6,389,262. The firm has a fifty day simple moving average of $310.49 and a two-hundred day simple moving average of $310.51. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock 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 declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.60%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 25.16%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group cut their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Truist Financial reissued a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce in the fourth quarter worth about $25,000. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter valued at $27,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at about $27,000. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $30,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.