Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells $5,616,791.16 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 16,487 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the sale, the chief operating officer now owns 1,662 shares in the company, valued at $566,210.16. This represents a 90.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00.
• On Thursday, October 24th, Brian Millham sold 969 shares of Salesforce stock. The shares were sold at an average price of $286.56, for a total value of $277,676.64.
• 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 value 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.

Salesforce Stock Up 0.4 %

Shares of Salesforce stock opened at $344.43 on Thursday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The business has a fifty day simple moving average of $325.29 and a 200 day simple moving average of $281.04. 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 $329.62 billion, a PE ratio of 56.65, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the company earned $1.62 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Institutional Trading of Salesforce

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Finally, UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus 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.