CRM

Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 1,679 Shares of Stock

March 27, 2024

51 4 minutes read

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Salesforce, Inc. (NYSE:CRM – Get Free Report) COO Brian Millham sold 1,679 shares of Salesforce stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $512,867.34. Following the completion of the transaction, the chief operating officer now directly owns 1,663 shares in the company, valued at approximately $507,979.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Brian Millham also recently made the following trade(s):

On Friday, March 22nd, Brian Millham sold 14,516 shares of Salesforce stock. The stock was sold at an average price of $309.32, for a total transaction of $4,490,089.12.
On Thursday, February 22nd, Brian Millham sold 14,517 shares of Salesforce stock. The stock was sold at an average price of $292.50, for a total transaction of $4,246,222.50.
On Wednesday, January 24th, Brian Millham sold 393 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total transaction of $110,040.00.
On Monday, January 22nd, Brian Millham sold 14,515 shares of Salesforce stock. The stock was sold at an average price of $284.00, for a total transaction of $4,122,260.00.
On Friday, January 19th, Brian Millham sold 293,965 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total transaction of $82,310,200.00.

Salesforce Stock Performance

NYSE:CRM opened at $305.84 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $292.85 and a two-hundred day moving average of $251.18. The stock has a market capitalization of $296.66 billion, a PE ratio of 72.82, a P/E/G ratio of 2.37 and a beta of 1.28. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently modified their holdings of CRM. Norges Bank purchased a new stake in shares of Salesforce during the fourth quarter worth $1,420,381,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Salesforce by 125,717.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after purchasing an additional 10,252,257 shares during the period. Capital International Investors increased its position in Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Cerity Partners LLC increased its position in Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the last quarter. Finally, Starboard Value LP acquired a new stake in Salesforce during the fourth quarter worth about $401,215,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. KeyCorp initiated coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Robert W. Baird boosted their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Argus boosted their target price on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Wolfe Research raised shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price on the stock in a research report on Monday, December 18th. Finally, UBS Group boosted their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $304.32.

Check Out Our Latest Analysis on Salesforce

About Salesforce

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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.