Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 924 Shares of Stock

Salesforce, Inc. (NYSE:CRM – Get Rating) CFO Amy E. Weaver sold 924 shares of Salesforce stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total transaction of $157,477.32. Following the transaction, the chief financial officer now owns 29,989 shares of the company’s stock, valued at $5,111,025.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE:CRM traded up $5.60 during mid-day trading on Thursday, hitting $173.05. 7,218,586 shares of the stock traded hands, compared to its average volume of 7,913,803. The business’s 50-day moving average price is $172.00 and its 200 day moving average price is $205.29. The company has a market cap of $172.18 billion, a PE ratio of 167.55, a price-to-earnings-growth ratio of 4.57 and a beta of 1.16. Salesforce, Inc. has a 12-month low of $154.55 and a 12-month high of $311.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

Salesforce (NYSE:CRM – Get Rating) last released its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the stock. Robert W. Baird reduced their price objective on shares of Salesforce from $300.00 to $260.00 and set an “outperform” rating for the company in a report on Wednesday, June 1st. Barclays lifted their price objective on shares of Salesforce from $208.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday, June 1st. Wedbush reduced their price objective on shares of Salesforce from $315.00 to $275.00 and set an “outperform” rating for the company in a report on Wednesday, March 2nd. Canaccord Genuity Group dropped their price target on shares of Salesforce from $315.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. Finally, Piper Sandler dropped their price target on shares of Salesforce from $330.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 1st. Four analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.50.

Hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont grew its stake in Salesforce by 1.6% in the 4th quarter. Trust Co. of Vermont now owns 34,489 shares of the CRM provider’s stock worth $8,765,000 after buying an additional 528 shares in the last quarter. Canvas Wealth Advisors LLC lifted its holdings in shares of Salesforce by 8.9% in the 4th quarter. Canvas Wealth Advisors LLC now owns 6,747 shares of the CRM provider’s stock worth $1,715,000 after acquiring an additional 551 shares during the last quarter. Lebenthal Global Advisors LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $399,000. Addison Capital Co lifted its holdings in shares of Salesforce by 37.4% in the 1st quarter. Addison Capital Co now owns 2,905 shares of the CRM provider’s stock worth $617,000 after acquiring an additional 790 shares during the last quarter. Finally, Mayflower Financial Advisors LLC lifted its holdings in shares of Salesforce by 1.2% in the 4th quarter. Mayflower Financial Advisors LLC now owns 3,794 shares of the CRM provider’s stock worth $964,000 after acquiring an additional 46 shares during the last quarter. 77.75% of the stock is owned by institutional investors and hedge funds.

Salesforce Company Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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