Sabastian Niles Sells 2,484 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Salesforce Stock Performance

Shares of NYSE CRM opened at $254.57 on Friday. The company has a market cap of $246.68 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s fifty day moving average is $253.56 and its two-hundred day moving average is $268.35.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is currently 28.78%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Evercore ISI reissued an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Friday, September 6th. Piper Sandler raised their target price on shares of Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays decreased their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Finally, Bank of America restated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $304.41.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRM. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce during the 1st quarter valued at approximately $33,000. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter worth $33,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Company Profile

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.