Sundeep G. Reddy Sells 2,425 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Salesforce Trading Down 1.1 %

NYSE CRM opened at $273.09 on Friday. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The company has a 50-day moving average of $296.28 and a 200-day moving average of $263.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $264.90 billion, a P/E ratio of 65.02, a P/E/G ratio of 2.13 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRM. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Monday, April 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Salesforce in a report on Monday, April 15th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Argus boosted their target price on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Robert W. Baird boosted their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $310.61.

Institutional Trading of Salesforce

A number of institutional investors have recently modified their holdings of CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce during the 4th quarter worth about $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the 4th quarter worth approximately $31,000. Pacifica Partners Inc. boosted its holdings in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the period. Finally, Red Tortoise LLC purchased a new position in Salesforce in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors 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.