Brian Millham Sells 969 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 969 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $286.56, for a total transaction of $277,676.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75.
• 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 transaction of $2,359,560.00.
• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The shares were sold at an average price of $266.22, for a total transaction of $1,526,771.70.
• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00.

Salesforce Price Performance

Shares of NYSE:CRM opened at $290.46 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a fifty day moving average price of $269.73 and a 200 day moving average price of $263.05. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market cap of $281.46 billion, a price-to-earnings ratio of 52.24, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the business. Ruedi Wealth Management Inc. raised its stake in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Red Tortoise LLC purchased a new stake in shares of Salesforce in the first quarter valued at $33,000. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Finally, Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. TD Cowen lifted their price target on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Stifel Nicolaus boosted their price objective on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JMP Securities reissued a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Finally, Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.51.

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.