Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells 4,096 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 4,096 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $1,118,822.40. Following the sale, the chief financial officer now directly owns 49,290 shares in the company, valued at approximately $13,463,563.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Salesforce Price Performance

Shares of Salesforce stock traded up $2.82 during trading on Tuesday, reaching $276.63. The company’s stock had a trading volume of 6,283,041 shares, compared to its average volume of 5,718,907. The business has a 50 day moving average price of $296.91 and a 200-day moving average price of $263.28. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The company has a market capitalization of $268.33 billion, a P/E ratio of 65.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.01 earnings per share. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Wedbush increased their target price on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Wells Fargo & Company boosted their price target on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Argus upped their price objective on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Truist Financial reiterated a “buy” rating and set a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. purchased a new position in Salesforce in the 4th quarter valued at approximately $26,000. Signature Resources Capital Management LLC purchased a new stake in Salesforce during the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the fourth quarter valued at $31,000. Pacifica Partners Inc. increased its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Finally, Red Tortoise LLC acquired a new position in shares of Salesforce during the 1st quarter worth $33,000. 80.43% of the stock is owned by hedge funds and other 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.