Salesforce, Inc. (NYSE:CRM) COO Brian Millham Sells 16,487 Shares

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 16,487 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the transaction, the chief operating officer now directly owns 1,662 shares in the company, valued at $566,210.16. The trade was a 90.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00.
• On Thursday, October 24th, Brian Millham sold 969 shares of Salesforce stock. The shares were sold at an average price of $286.56, for a total transaction of $277,676.64.
• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00.

Salesforce Stock Performance

NYSE:CRM opened at $342.90 on Tuesday. The firm has a market capitalization of $328.16 billion, a P/E ratio of 56.40, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a fifty day moving average of $323.14 and a 200-day moving average of $279.61. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the business posted $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

CRM has been the subject of several recent research reports. Loop Capital boosted their price target on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Robert W. Baird increased their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. DA Davidson boosted their price target on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Roth Mkm reiterated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $378.86.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Independent Solutions Wealth Management LLC boosted its holdings in Salesforce by 7.3% during the third quarter. Independent Solutions Wealth Management LLC now owns 2,140 shares of the CRM provider’s stock worth $586,000 after purchasing an additional 145 shares during the last quarter. Legacy Wealth Management LLC MS bought a new position in shares of Salesforce during the 3rd quarter worth approximately $210,000. Garden State Investment Advisory Services LLC grew its holdings in shares of Salesforce by 28.0% in the third quarter. Garden State Investment Advisory Services LLC now owns 3,274 shares of the CRM provider’s stock valued at $898,000 after acquiring an additional 717 shares in the last quarter. Copley Financial Group Inc. bought a new position in shares of Salesforce in the third quarter valued at approximately $463,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Salesforce during the third quarter valued at approximately $15,894,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.