Salesforce, Inc. (NYSE:CRM) CFO Sells $1,118,822.40 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 4,096 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $1,118,822.40. Following the completion of the transaction, the chief financial officer now directly owns 49,290 shares in the company, valued at approximately $13,463,563.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Salesforce Stock Performance

CRM stock opened at $276.19 on Thursday. 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 company has a market capitalization of $267.90 billion, a price-to-earnings ratio of 65.76, a P/E/G ratio of 2.11 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The firm has a 50 day moving average of $296.65 and a two-hundred day moving average of $263.37.

Salesforce (NYSE:CRM) last posted its 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 company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

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 was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Stifel Nicolaus reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. KeyCorp began coverage on shares of Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 target price (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, UBS Group lifted their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Institutional Trading of Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the fourth quarter worth $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce in the fourth quarter worth $31,000. Pacifica Partners Inc. raised its stake in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Finally, Red Tortoise LLC acquired a new position in Salesforce during the 1st quarter valued at $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.