Salesforce, Inc. (NYSE:CRM) Insider Sells $1,074,350.70 in Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 3,910 shares of Salesforce stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the completion of the sale, the insider now owns 19,463 shares of the company’s stock, valued at $5,347,848.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Salesforce Trading Down 0.5 %

Shares of Salesforce stock opened at $270.45 on Friday. The firm has a market capitalization of $262.34 billion, a PE ratio of 64.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company’s fifty day moving average price is $297.28 and its two-hundred day moving average price is $261.43. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CRM. Stifel Nicolaus restated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. UBS Group boosted their price objective on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Robert W. Baird boosted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets boosted their price objective on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $307.87.

Institutional Investors Weigh In On Salesforce

Several large investors have recently made changes to their positions in CRM. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce during the 4th quarter worth about $26,000. Aspect Partners LLC acquired a new position in Salesforce during the 4th quarter worth about $29,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the 4th quarter worth about $31,000. Finally, Main Street Group LTD acquired a new position in Salesforce during the 4th quarter worth about $31,000. Institutional investors 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.