Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 5,864 Shares

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 5,864 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the transaction, the chief financial officer now owns 45,231 shares of the company’s stock, valued at $12,428,121.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Salesforce Price Performance

Shares of CRM opened at $276.33 on Thursday. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The stock’s 50 day moving average is $298.10 and its two-hundred day moving average is $260.89. The firm has a market capitalization of $268.04 billion, a PE ratio of 65.79, a P/E/G ratio of 2.10 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI raised their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Piper Sandler reiterated a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research note on Monday. Finally, Bank of America increased their price objective on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.87.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently modified their holdings of CRM. Strata Wealth Advisors LLC lifted its stake in Salesforce by 31.7% in the 1st quarter. Strata Wealth Advisors LLC now owns 1,627 shares of the CRM provider’s stock valued at $490,000 after buying an additional 392 shares in the last quarter. Trilogy Capital Inc. acquired a new stake in Salesforce during the 1st quarter valued at $379,000. Red Door Wealth Management LLC grew its holdings in Salesforce by 7.2% during the 1st quarter. Red Door Wealth Management LLC now owns 15,604 shares of the CRM provider’s stock valued at $4,700,000 after buying an additional 1,044 shares during the last quarter. Richardson Capital Management LLC grew its holdings in Salesforce by 873.0% during the 1st quarter. Richardson Capital Management LLC now owns 360 shares of the CRM provider’s stock valued at $108,000 after buying an additional 323 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in Salesforce by 12.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 57,286 shares of the CRM provider’s stock valued at $17,253,000 after buying an additional 6,300 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.