R David Schmaier Sells 1,785 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Salesforce Trading Down 1.0 %

Shares of NYSE:CRM opened at $338.45 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $323.90 billion, a PE ratio of 55.67, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a fifty day moving average price of $328.28 and a 200 day moving average price of $282.86.

Salesforce (NYSE:CRM) last released 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 return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the company posted $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRM shares. Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $375.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Barclays upped their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. 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 stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $378.86.

Institutional Trading of Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of CRM. Independent Solutions Wealth Management LLC raised its holdings in Salesforce by 7.3% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 2,140 shares of the CRM provider’s stock worth $586,000 after acquiring an additional 145 shares during the period. Legacy Wealth Management LLC MS acquired a new stake in shares of Salesforce in the third quarter valued at about $210,000. Garden State Investment Advisory Services LLC increased its stake 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 worth $898,000 after purchasing an additional 717 shares during the period. Copley Financial Group Inc. acquired a new position in shares of Salesforce during the 3rd quarter worth about $463,000. Finally, Oddo BHF Asset Management Sas bought a new stake in Salesforce during the 3rd quarter valued at approximately $15,894,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.