Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy Sells 436 Shares

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Salesforce Price Performance

Shares of NYSE CRM opened at $334.75 on Friday. The stock’s 50-day simple moving average is $336.50 and its two-hundred day simple moving average is $293.20. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $320.36 billion, a P/E ratio of 55.06, a P/E/G ratio of 2.95 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 earnings per share. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. DA Davidson upped their price objective on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Bank of America lifted their target price on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Loop Capital increased their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the third quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce during the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC boosted its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in Salesforce during the third quarter valued at approximately $53,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.