Sundeep G. Reddy Sells 1,525 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 1,525 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $386,831.50. Following the completion of the transaction, the chief accounting officer now owns 12,211 shares of the company’s stock, valued at $3,097,442.26. The trade was a 11.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Salesforce Trading Up 1.2 %

CRM opened at $267.87 on Friday. The firm has a market capitalization of $257.42 billion, a PE ratio of 44.06, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company’s 50-day moving average is $273.75 and its 200 day moving average is $308.27. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Stephens began coverage on Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Salesforce in a research report on Wednesday. They set an “overweight” rating and a $210.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a research report on Tuesday. Oppenheimer reduced their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Loop Capital lowered their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $351.37.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Nvest Financial LLC grew its holdings in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its position in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC increased its position in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC raised its stake in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is owned by 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.