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 company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now directly owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Salesforce Stock Down 2.8 %

Shares of CRM opened at $270.04 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. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm’s 50 day moving average is $309.39 and its 200-day moving average is $310.68. The stock has a market capitalization of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 25.16%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CRM shares. Northland Securities restated an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Barclays lifted their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Institutional Trading of Salesforce

A number of institutional investors have recently modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new position in Salesforce in the fourth quarter valued at about $25,000. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter valued at about $27,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth approximately $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $30,000. 80.43% of the stock is currently owned by institutional investors.

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.