Salesforce, Inc. (NYSE:CRM) CAO Sells $17,210.70 in Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 65 shares of Salesforce stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $17,210.70. Following the transaction, the chief accounting officer now directly owns 6,509 shares in the company, valued at $1,723,453.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Salesforce Stock Performance

NYSE CRM traded down $2.59 on Monday, reaching $264.21. 6,021,441 shares of the company’s stock traded hands, compared to its average volume of 6,573,043. The firm has a market cap of $256.02 billion, a price-to-earnings ratio of 47.52, a P/E/G ratio of 2.26 and a beta of 1.29. The stock has a 50 day moving average price of $254.37 and a 200-day moving average price of $265.91. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two 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.

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 analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fox Hill Wealth Management lifted its stake in shares of Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after acquiring an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the period. Glassman Wealth Services lifted its stake in shares of Salesforce by 2.9% in the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after acquiring an additional 39 shares during the period. Blue Barn Wealth LLC lifted its stake in shares of Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after acquiring an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC lifted its stake in shares of Salesforce by 0.8% in the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock worth $1,254,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CRM. Citigroup lifted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Morgan Stanley lifted their price target on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays cut their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $306.00.

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.