Salesforce, Inc. (NYSE:CRM) Insider Sells $141,050.26 in Stock

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 458 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Salesforce Stock Performance

Shares of CRM opened at $307.19 on Thursday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a 50-day moving average of $330.86 and a two-hundred day moving average of $306.97. The stock has a market cap of $293.98 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the business earned $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 expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Canaccord Genuity Group increased their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup dropped their price objective on shares of Salesforce from $390.00 to $350.00 and set a “neutral” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.47.

Institutional Trading of Salesforce

Hedge funds have recently made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $25,000. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $27,000. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $30,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.