Brian Millham Sells 16,487 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 16,487 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the transaction, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at $566,210.16. This trade represents a 90.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00.
• On Thursday, October 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $286.56, for a total value of $277,676.64.
• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00.

Salesforce Trading Down 0.2 %

CRM stock traded down $0.75 during midday trading on Monday, hitting $342.90. The stock had a trading volume of 5,329,221 shares, compared to its average volume of 6,448,090. The company’s 50-day moving average price is $323.14 and its 200 day moving average price is $279.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $328.16 billion, a PE ratio of 56.40, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the company posted $1.62 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CRM shares. UBS Group lifted their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Robert W. Baird lifted their price objective on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $378.86.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently made changes to their positions in the stock. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at about $27,000. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC grew its stake in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the second quarter worth $33,000. Finally, Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.