Salesforce, Inc. (NYSE:CRM) COO Brian Millham Sells 708 Shares

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 708 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the transaction, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at $411,694.92. This trade represents a 36.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, December 23rd, Brian Millham sold 16,487 shares of Salesforce stock. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16.
• 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 stock was sold at an average price of $300.00, for a total value of $18,156,600.00.

Salesforce Price Performance

NYSE CRM traded up $2.13 during trading hours on Thursday, hitting $334.75. 4,351,873 shares of the company’s stock traded hands, compared to its average volume of 5,399,249. The company has a market capitalization of $320.36 billion, a PE ratio of 55.06, a PEG ratio of 2.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm’s 50-day moving average is $336.50 and its 200-day moving average is $293.20.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during 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%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. Equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Institutional Trading of Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC lifted its position in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce in the third quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CRM shares. JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Northland Securities reissued an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.