Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells $2,133,803.00 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This represents a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Salesforce Price Performance

CRM opened at $338.45 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $323.90 billion, a price-to-earnings ratio of 55.67, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The stock has a fifty day simple moving average of $328.28 and a two-hundred day simple moving average of $282.86. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business earned $1.62 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s payout ratio is currently 26.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independent Solutions Wealth Management LLC increased its holdings in shares of Salesforce by 7.3% during the third quarter. Independent Solutions Wealth Management LLC now owns 2,140 shares of the CRM provider’s stock valued at $586,000 after acquiring an additional 145 shares in the last quarter. Legacy Wealth Management LLC MS purchased a new stake in Salesforce during the 3rd quarter valued at about $210,000. Garden State Investment Advisory Services LLC increased its stake in Salesforce by 28.0% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 3,274 shares of the CRM provider’s stock valued at $898,000 after purchasing an additional 717 shares in the last quarter. Copley Financial Group Inc. purchased a new position in Salesforce in the third quarter worth about $463,000. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Salesforce in the third quarter worth approximately $15,894,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays boosted their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial restated 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. Citigroup increased their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lifted their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $378.86.

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.