Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 6,221 Shares

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. This represents a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Salesforce Trading Down 1.5 %

Shares of NYSE:CRM opened at $324.19 on Thursday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $310.25 billion, a P/E ratio of 53.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31. The company has a 50-day simple moving average of $335.02 and a 200 day simple moving average of $304.66.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 earnings per share. Sell-side analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

Institutional Trading of Salesforce

A number of hedge funds have recently modified their holdings of the stock. RBA Wealth Management LLC grew its position in shares of Salesforce by 3.7% in the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after purchasing an additional 574 shares during the last quarter. Godsey & Gibb Inc. grew its holdings in 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 buying an additional 90 shares in the last quarter. Trilogy Capital Inc. increased its position in Salesforce by 10.2% during the 3rd quarter. Trilogy Capital Inc. now owns 1,756 shares of the CRM provider’s stock worth $481,000 after buying an additional 162 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Salesforce during the third quarter worth $82,000. Finally, Copeland Capital Management LLC boosted its position in shares of Salesforce by 79.0% in the third quarter. Copeland Capital Management LLC now owns 64,647 shares of the CRM provider’s stock valued at $17,695,000 after acquiring an additional 28,532 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America upped their price target on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. DA Davidson boosted their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $376.84.

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.