Brian Millham Sells 4,204 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 4,204 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total transaction of $1,168,712.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, April 22nd, Brian Millham sold 5,801 shares of Salesforce stock. The stock was sold at an average price of $279.10, for a total transaction of $1,619,059.10.
• 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 shares were sold at an average price of $292.50, for a total transaction of $4,246,222.50.

Salesforce Price Performance

Shares of CRM stock opened at $274.21 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $265.98 billion, a P/E ratio of 65.29, a P/E/G ratio of 2.12 and a beta of 1.28. The company’s 50-day simple moving average is $295.97 and its two-hundred day simple moving average is $263.90. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

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

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently bought and sold shares of the business. Graypoint LLC increased its holdings in shares of Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares during the period. Chase Investment Counsel Corp increased its holdings in shares of Salesforce by 0.3% in the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares during the period. JFS Wealth Advisors LLC increased its holdings in shares of Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after acquiring an additional 36 shares during the period. Opes Wealth Management LLC increased its holdings in shares of Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after acquiring an additional 37 shares during the period. Finally, Prentice Wealth Management LLC increased its holdings in shares of Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after acquiring an additional 38 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Wells Fargo & Company boosted their price objective 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. Robert W. Baird boosted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Truist Financial reissued a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine research 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 MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $310.61.

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.