Brian Millham Sells 8,427 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The shares were sold at an average price of $266.22, for a total transaction of $1,526,771.70.
• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The shares were 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 value of $245,767.47.
• On Monday, July 22nd, Brian Millham sold 2,037 shares of Salesforce stock. The stock was sold at an average price of $248.75, for a total value of $506,703.75.

Salesforce Trading Up 0.5 %

Salesforce stock traded up $1.35 during mid-day trading on Thursday, hitting $280.83. The company’s stock had a trading volume of 3,867,288 shares, compared to its average volume of 6,545,694. The firm has a market capitalization of $272.12 billion, a PE ratio of 50.14, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $257.54 and its two-hundred day moving average is $264.75.

Salesforce (NYSE:CRM) last issued 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 during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’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 posted $1.63 earnings per share. On average, analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.57%. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Citigroup lifted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Piper Sandler raised Salesforce from a “neutral” rating to an “overweight” rating and upped their target price for the company from $268.00 to $325.00 in a research report on Tuesday, September 24th. Finally, Oppenheimer lifted their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its holdings in shares of Salesforce by 8.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 40,196 shares of the CRM provider’s stock valued at $10,577,000 after purchasing an additional 3,194 shares in the last quarter. Exencial Wealth Advisors LLC increased its position in shares of Salesforce by 9.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 5,292 shares of the CRM provider’s stock worth $1,393,000 after acquiring an additional 461 shares during the period. Pinnacle West Asset Management Inc. boosted its holdings in Salesforce by 7.8% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 1,105 shares of the CRM provider’s stock valued at $291,000 after purchasing an additional 80 shares during the period. Envestnet Asset Management Inc. grew its stake in Salesforce by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,485,410 shares of the CRM provider’s stock worth $390,871,000 after purchasing an additional 24,812 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its holdings in Salesforce by 97.7% during the 4th quarter. Morningstar Investment Services LLC now owns 281,970 shares of the CRM provider’s stock worth $74,886,000 after purchasing an additional 139,320 shares during the period. 80.43% of the stock is currently owned by hedge funds and other 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.