Miguel Milano Sells 719 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Salesforce Stock Performance

Shares of CRM stock opened at $343.21 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $298.02 and a 200-day simple moving average of $269.44. The company has a market cap of $328.11 billion, a price-to-earnings ratio of 59.69, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is presently 27.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Loop Capital increased their target price on Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Bank of America raised their target price on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Scotiabank initiated coverage on shares of Salesforce in a research note on Monday, November 18th. They set a “sector outperform” rating and a $425.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.66.

Institutional Trading of Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth $27,000. Clear Investment Research LLC boosted its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Godsey & Gibb Inc. grew its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the second quarter valued at $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Company Profile

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.