Salesforce, Inc. (NYSE:CRM) Director G Mason Morfit Sells 15,353 Shares

Salesforce, Inc. (NYSE:CRM) Director G Mason Morfit sold 15,353 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the completion of the transaction, the director now directly owns 2,898,509 shares of the company’s stock, valued at approximately $987,087,239.95. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

G Mason Morfit also recently made the following trade(s):

• On Wednesday, December 18th, G Mason Morfit sold 722,300 shares of Salesforce stock. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00.

Salesforce Stock Up 2.2 %

Shares of CRM stock traded up $7.42 during mid-day trading on Friday, hitting $343.65. 14,740,856 shares of the stock traded hands, compared to its average volume of 6,451,860. The stock’s fifty day moving average is $322.03 and its two-hundred day moving average is $278.26. 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 stock has a market cap of $328.87 billion, a P/E ratio of 56.52, a P/E/G ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. Equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter valued at approximately $27,000. Clear Investment Research LLC increased its stake in Salesforce by 816.7% during 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. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% in the third 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. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter worth $33,000. Finally, Stephens Consulting LLC grew its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent research reports. Citigroup upped their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Robert W. Baird raised their price objective on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Roth Mkm reissued a “buy” rating and set a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Phillip Securities restated an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Finally, Morgan Stanley boosted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.