Salesforce, Inc. (NYSE:CRM) CFO Sells $2,041,607.78 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. This represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Salesforce Price Performance

Shares of NYSE CRM opened at $309.54 on Friday. The firm has a market capitalization of $296.23 billion, a P/E ratio of 50.91, a PEG ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s fifty day moving average is $333.34 and its two-hundred day moving average is $305.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is presently 26.32%.

Institutional Investors Weigh In On Salesforce

Several institutional investors and hedge funds have recently made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the 4th quarter worth about $25,000. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the 3rd quarter worth about $27,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in shares of Salesforce in the 4th quarter worth about $30,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Northland Securities reiterated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. BMO Capital Markets cut their price objective on shares of Salesforce from $425.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 6th. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.53.

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.