Salesforce, Inc. (NYSE:CRM) COO Brian Millham Sells 5,801 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,801 shares of Salesforce stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $279.10, for a total transaction of $1,619,059.10. Following the sale, the chief operating officer now directly owns 4,204 shares of the company’s stock, valued at approximately $1,173,336.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Brian Millham also recently made the following trade(s):

• On Monday, April 1st, Brian Millham sold 24,453 shares of Salesforce stock. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24.
• On Monday, March 25th, Brian Millham sold 1,679 shares of Salesforce stock. The stock was sold at an average price of $305.46, for a total transaction of $512,867.34.
• On Friday, March 22nd, Brian Millham sold 14,516 shares of Salesforce stock. The stock was sold at an average price of $309.32, for a total transaction of $4,490,089.12.
• On Thursday, February 22nd, Brian Millham sold 14,517 shares of Salesforce stock. The stock was sold at an average price of $292.50, for a total transaction of $4,246,222.50.
• On Wednesday, January 24th, Brian Millham sold 393 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total transaction of $110,040.00.

Salesforce Trading Up 1.0 %

NYSE:CRM opened at $276.63 on Wednesday. The firm’s fifty day moving average is $296.91 and its 200-day moving average is $263.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52 week low of $190.57 and a 52 week high of $318.71. The firm has a market cap of $268.33 billion, a P/E ratio of 65.86, a P/E/G ratio of 2.08 and a beta of 1.28.

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

Salesforce Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on CRM shares. Jefferies Financial Group lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Monday, April 15th. UBS Group boosted their target price on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Wednesday, April 3rd. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in Salesforce during the fourth quarter worth $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce during the fourth quarter worth $26,000. Red Tortoise LLC bought a new position in Salesforce during the first quarter worth $33,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce during the fourth quarter worth $31,000. Finally, BKM Wealth Management LLC bought a new position in Salesforce during the fourth quarter worth $34,000. 80.43% of the stock is 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.