Salesforce, Inc. (NYSE:CRM) Insider Sells $246,480.39 in Stock

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Salesforce Stock Performance

Shares of CRM stock opened at $339.12 on Tuesday. The firm has a 50 day moving average of $296.26 and a 200-day moving average of $268.98. The company has a market cap of $324.20 billion, a price-to-earnings ratio of 58.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s payout ratio is currently 27.83%.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of the company. Piscataqua Savings Bank lifted its stake 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 valued at $26,000 after buying an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter valued at about $27,000. Clear Investment Research LLC lifted its holdings in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter worth about $33,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley upped their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Scotiabank assumed coverage on shares of Salesforce in a report on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. JMP Securities increased their price objective on shares of Salesforce from $342.00 to $450.00 and gave the company a “market outperform” rating in a research note on Friday. Finally, TD Cowen boosted their target price on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $339.66.

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.