Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells 924 Shares of Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $157,477.32. Following the completion of the sale, the chief financial officer now directly owns 29,989 shares in the company, valued at $5,111,025.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

CRM traded up $5.60 during trading on Thursday, reaching $173.05. 7,218,586 shares of the company traded hands, compared to its average volume of 7,913,803. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Salesforce, Inc. has a 12-month low of $154.55 and a 12-month high of $311.75. The firm has a fifty day simple moving average of $172.00 and a 200 day simple moving average of $205.29. The company has a market cap of $172.18 billion, a P/E ratio of 167.55, a PEG ratio of 4.57 and a beta of 1.16.

Salesforce (NYSE:CRMGet Rating) last posted its earnings results on Tuesday, May 31st. The CRM provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same period last year, the firm posted $0.74 earnings per share. Salesforce’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, sell-side analysts expect that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on CRM shares. Piper Sandler reduced their target price on shares of Salesforce from $330.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 1st. Bank of America cut their price objective on shares of Salesforce from $360.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. JPMorgan Chase & Co. cut their price objective on shares of Salesforce from $316.00 to $275.00 in a research report on Wednesday, June 1st. The Goldman Sachs Group set a $360.00 price objective on shares of Salesforce and gave the company a “buy” rating in a research report on Wednesday, March 2nd. Finally, Barclays increased their price objective on shares of Salesforce from $208.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, June 1st. Four research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.50.

Several hedge funds have recently bought and sold shares of CRM. Vectors Research Management LLC grew its holdings in shares of Salesforce by 128.9% in the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new position in shares of Salesforce in the fourth quarter valued at $27,000. MCF Advisors LLC purchased a new position in Salesforce during the first quarter worth $30,000. FSC Wealth Advisors LLC boosted its stake in Salesforce by 1,350.0% during the first quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after buying an additional 135 shares during the period. Finally, Financial Enhancement Group LLC boosted its stake in Salesforce by 589.5% during the fourth quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock worth $33,000 after buying an additional 112 shares during the period. 77.75% of the stock is owned by hedge funds and other institutional investors.

Salesforce Company Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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