Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 6,221 Shares

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Salesforce Stock Up 1.6 %

Shares of NYSE CRM opened at $292.05 on Thursday. The stock has a market cap of $279.49 billion, a P/E ratio of 48.03, a P/E/G ratio of 2.58 and a beta of 1.35. The firm has a 50 day moving average price of $325.91 and a 200 day moving average price of $308.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. Analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Bank of America reduced their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler reduced their price target on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRM. Princeton Global Asset Management LLC boosted its holdings in shares of Salesforce by 8,433.3% in the third quarter. Princeton Global Asset Management LLC now owns 256 shares of the CRM provider’s stock valued at $70,000 after buying an additional 253 shares during the period. Janney Capital Management LLC boosted its holdings in shares of Salesforce by 4.3% in the third quarter. Janney Capital Management LLC now owns 1,299 shares of the CRM provider’s stock valued at $356,000 after buying an additional 53 shares during the period. Opes Wealth Management LLC boosted its holdings in shares of Salesforce by 3.8% in the third quarter. Opes Wealth Management LLC now owns 1,316 shares of the CRM provider’s stock valued at $360,000 after buying an additional 48 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Salesforce by 0.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 975,712 shares of the CRM provider’s stock valued at $267,062,000 after buying an additional 2,825 shares during the period. Finally, KG&L Capital Management LLC boosted its holdings in shares of Salesforce by 10.0% in the third quarter. KG&L Capital Management LLC now owns 3,387 shares of the CRM provider’s stock valued at $927,000 after buying an additional 308 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.