Salesforce, Inc. (NYSE:CRM) COO Brian Millham Sells 14,808 Shares

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 14,808 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Brian Millham also recently made the following trade(s):

• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00.
• On Thursday, October 24th, Brian Millham sold 969 shares of Salesforce stock. The shares were sold at an average price of $286.56, for a total value of $277,676.64.
• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00.
• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The shares were sold at an average price of $266.22, for a total value of $1,526,771.70.

Salesforce Price Performance

CRM stock opened at $342.12 on Friday. The company has a fifty day simple moving average of $294.61 and a two-hundred day simple moving average of $268.66. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $327.07 billion, a P/E ratio of 59.50, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid 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 yield of 0.47%. Salesforce’s dividend payout ratio is currently 27.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aviance Capital Partners LLC raised its holdings in Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares in the last quarter. EWA LLC increased its position in shares of Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after purchasing an additional 33 shares in the last quarter. Umpqua Bank lifted its holdings in shares of Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares during the last quarter. Principal Street Partners LLC boosted its position in shares of Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after purchasing an additional 34 shares during the period. Finally, Nvwm LLC grew its stake in Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. TD Cowen raised their target price on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. Stifel Nicolaus raised their target price on shares of Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Raymond James boosted their price target on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $336.37.

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.