Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells $229,434.66 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Salesforce Trading Up 2.7 %

CRM opened at $256.53 on Friday. The firm’s fifty day moving average is $251.65 and its two-hundred day moving average is $275.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $248.58 billion, a PE ratio of 46.14, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $1.15 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s payout ratio is 28.78%.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ruedi Wealth Management Inc. raised its holdings in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the period. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $26,000. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. Finally, Red Tortoise LLC acquired a new stake in Salesforce in the 1st quarter valued at $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target on shares of Salesforce in a research report on Friday, May 24th. Raymond James reaffirmed a “strong-buy” rating and set a $325.00 price objective (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. TD Cowen decreased their price objective on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Finally, Robert W. Baird decreased their price objective on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

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.