Salesforce, Inc. (NYSE:CRM) Insider Miguel Milano Sells 2,934 Shares

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 2,934 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. The sale was disclosed in a filing with the SEC, which is available through this link.

Salesforce Stock Up 2.1 %

Shares of CRM traded up $5.33 during mid-day trading on Friday, reaching $263.92. The company’s stock had a trading volume of 4,709,214 shares, compared to its average volume of 6,563,299. The business has a fifty day moving average of $252.09 and a 200 day moving average of $272.22. The company has a market cap of $255.74 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. 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 announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the company earned $1.15 earnings per share. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio is 28.78%.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of CRM. Ruedi Wealth Management Inc. lifted its position in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth about $26,000. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce in the first quarter worth about $33,000. Finally, Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Cowen decreased their price objective on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Barclays decreased their price target on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Bank of America increased their price target on Salesforce from $288.00 to $316.00 and gave the company a “buy” rating in a research note on Friday, August 16th. UBS Group decreased their price target on Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Stifel Nicolaus decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $291.50.

About Salesforce

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.