Salesforce, Inc. (NYSE:CRM) CAO Sells $318,157.36 in Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 1,256 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $318,157.36. Following the completion of the sale, the chief accounting officer now directly owns 12,826 shares of the company’s stock, valued at approximately $3,248,954.06. This trade represents a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Salesforce Price Performance

CRM opened at $246.93 on Friday. The stock has a 50-day moving average price of $281.23 and a 200-day moving average price of $309.60. The stock has a market capitalization of $237.30 billion, a P/E ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Scotiabank cut their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.32.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC grew its position in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Athena Investment Management purchased a new position in shares of Salesforce in the fourth quarter worth $236,000. Highland Capital Management LLC purchased a new stake in Salesforce during the 4th quarter valued at $4,321,000. Nordea Investment Management AB increased its position in shares of Salesforce by 11.9% in the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock valued at $766,566,000 after acquiring an additional 243,008 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in shares of Salesforce by 14.1% during the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock valued at $5,252,000 after acquiring an additional 1,936 shares during the last quarter. Hedge funds and other institutional investors 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.