Salesforce, Inc. (NYSE:CRM) Insider R David Schmaier Sells 3,910 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 3,910 shares of Salesforce stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the transaction, the insider now directly owns 19,463 shares of the company’s stock, valued at $5,347,848.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Salesforce Stock Performance

Salesforce stock opened at $276.33 on Thursday. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $298.10 and its two-hundred day moving average price is $260.89. The stock has a market cap of $268.04 billion, a PE ratio of 65.79, a P/E/G ratio of 2.10 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal 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 issued 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 currently 9.52%.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Mizuho reaffirmed a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $290.00 to $350.00 in a research report on Thursday, December 21st. KeyCorp initiated coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $307.87.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strata Wealth Advisors LLC grew its holdings in shares of Salesforce by 31.7% during the first quarter. Strata Wealth Advisors LLC now owns 1,627 shares of the CRM provider’s stock worth $490,000 after purchasing an additional 392 shares during the last quarter. Trilogy Capital Inc. bought a new stake in shares of Salesforce during the first quarter worth about $379,000. Red Door Wealth Management LLC grew its holdings in shares of Salesforce by 7.2% during the first quarter. Red Door Wealth Management LLC now owns 15,604 shares of the CRM provider’s stock worth $4,700,000 after purchasing an additional 1,044 shares during the last quarter. Richardson Capital Management LLC grew its holdings in shares of Salesforce by 873.0% during the first quarter. Richardson Capital Management LLC now owns 360 shares of the CRM provider’s stock worth $108,000 after purchasing an additional 323 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in shares of Salesforce by 12.4% during the first quarter. New Mexico Educational Retirement Board now owns 57,286 shares of the CRM provider’s stock worth $17,253,000 after purchasing an additional 6,300 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

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.