Salesforce, Inc. (NYSE:CRM) CAO Sells $22,085.70 in Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 65 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $22,085.70. Following the completion of the transaction, the chief accounting officer now directly owns 6,584 shares in the company, valued at approximately $2,237,111.52. This trade represents a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Salesforce Stock Performance

Shares of CRM traded down $0.75 during trading hours on Monday, hitting $342.90. The company had a trading volume of 5,329,221 shares, compared to its average volume of 6,448,090. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market cap of $328.16 billion, a price-to-earnings ratio of 56.40, a PEG ratio of 3.21 and a beta of 1.30. The business has a fifty day moving average of $323.14 and a 200-day moving average of $279.61. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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 the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 EPS. Equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter valued at approximately $27,000. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC increased its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter worth $33,000. Finally, Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Canaccord Genuity Group increased their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. UBS Group raised their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, TD Cowen lifted their target price on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Eight research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus 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.