Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells 942 Shares of Stock
Salesforce, Inc. (NYSE:CRM – Get Free Report) CFO Amy E. Weaver sold 942 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Salesforce Stock Down 0.1 %
NYSE:CRM opened at $305.84 on Wednesday. The firm has a market capitalization of $296.66 billion, a PE ratio of 72.82, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28. The stock has a 50 day moving average of $292.85 and a 200-day moving average of $251.18. Salesforce, Inc. has a 52 week low of $187.31 and a 52 week high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.
Salesforce Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.
Hedge Funds Weigh In On Salesforce
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. bought a new position in Salesforce in the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce in the 4th quarter worth approximately $26,000. Union Savings Bank bought a new position in Salesforce in the 2nd quarter worth approximately $27,000. Aspect Partners LLC bought a new position in Salesforce in the 4th quarter worth approximately $29,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in Salesforce in the 4th quarter worth approximately $31,000. 80.43% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on CRM shares. Oppenheimer upped their target price on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $285.00 target price on shares of Salesforce in a research report on Wednesday, February 28th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. Raymond James upped their target price on Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 30th. Finally, UBS Group boosted their price target on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.32.
Check Out Our Latest Stock Report on CRM
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.
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