Insider Selling: Salesforce, Inc. (NYSE:CRM) CAO Sells $662,388.75 in Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Salesforce Trading Down 1.1 %

NYSE CRM opened at $273.09 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The company’s 50-day simple moving average is $296.28 and its two-hundred day simple moving average is $263.44. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. Equities analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Wedbush raised their target price on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. Finally, Argus raised their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRM. Norges Bank purchased a new position in shares of Salesforce in the 4th quarter worth approximately $2,762,331,000. Capital International Investors grew its position in Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Cerity Partners LLC grew its position in Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the last quarter. Coatue Management LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Salesforce by 110.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after purchasing an additional 1,780,421 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.