Salesforce, Inc. (NYSE:CRM) COO Sells $1,526,771.70 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,735 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $266.22, for a total value of $1,526,771.70. Following the transaction, the chief operating officer now directly owns 1,663 shares of the company’s stock, valued at approximately $442,723.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00.
• On Wednesday, July 24th, Brian Millham sold 969 shares of Salesforce stock. The shares were sold at an average price of $253.63, for a total transaction of $245,767.47.
• On Monday, July 22nd, Brian Millham sold 2,037 shares of Salesforce stock. The shares were sold at an average price of $248.75, for a total value of $506,703.75.
• On Friday, June 28th, Brian Millham sold 2,018 shares of Salesforce stock. The shares were sold at an average price of $260.00, for a total transaction of $524,680.00.

Salesforce Price Performance

CRM stock traded down $2.59 during mid-day trading on Monday, reaching $264.21. 6,021,441 shares of the company traded hands, compared to its average volume of 6,573,043. The company has a fifty day moving average price of $254.37 and a 200-day moving average price of $265.91. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a market capitalization of $256.02 billion, a P/E ratio of 47.52, a P/E/G ratio of 2.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Wedbush reiterated an “outperform” rating and issued a $315.00 target price on shares of Salesforce in a report on Thursday, August 29th. Wells Fargo & Company upped their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $306.00.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently made changes to their positions in the business. Gilbert & Cook Inc. lifted its stake in shares of Salesforce by 6.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock valued at $1,489,000 after acquiring an additional 366 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in shares of Salesforce by 44.7% during the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock valued at $422,000 after purchasing an additional 496 shares during the period. 9258 Wealth Management LLC grew its holdings in shares of Salesforce by 24.0% in the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after purchasing an additional 1,253 shares during the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Salesforce by 32.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after buying an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC raised its holdings in Salesforce by 1.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock valued at $2,115,000 after buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.