Salesforce, Inc. (NYSE:CRM) CFO Sells $1,611,251.28 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 5,864 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the sale, the chief financial officer now owns 45,231 shares in the company, valued at $12,428,121.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Salesforce Stock Performance

NYSE CRM traded down $1.08 during mid-day trading on Wednesday, reaching $276.33. 4,198,638 shares of the stock were exchanged, compared to its average volume of 5,706,728. The business’s 50 day moving average is $298.35 and its 200-day moving average is $260.79. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The company has a market capitalization of $268.04 billion, a P/E ratio of 65.90, a P/E/G ratio of 2.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. On average, equities research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walkner Condon Financial Advisors LLC lifted its position in Salesforce by 2.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after acquiring an additional 74 shares during the last quarter. Pure Financial Advisors LLC purchased a new stake in Salesforce in the fourth quarter valued at $214,000. Riversedge Advisors LLC lifted its position in Salesforce by 21.7% in the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after acquiring an additional 420 shares during the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in Salesforce in the third quarter valued at $2,499,000. Finally, Lone Pine Capital LLC lifted its position in Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after acquiring an additional 804,634 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 target price on shares of Salesforce in a report on Monday. Evercore ISI upped their price target on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Bank of America upped their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. UBS Group raised their target price on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

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.