R David Schmaier Sells 8,281 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 8,281 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $2,261,955.15. Following the sale, the insider now directly owns 18,787 shares of the company’s stock, valued at $5,131,669.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

R David Schmaier also recently made the following trade(s):

• On Tuesday, April 16th, R David Schmaier sold 3,910 shares of Salesforce stock. The stock was sold at an average price of $274.77, for a total value of $1,074,350.70.

Salesforce Trading Down 0.2 %

NYSE:CRM opened at $276.19 on Thursday. 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 firm has a market capitalization of $267.90 billion, a price-to-earnings ratio of 65.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71. The business has a fifty day moving average price of $296.65 and a 200-day moving average price of $263.37.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. Sell-side analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is presently 9.52%.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently bought and sold shares of CRM. Bear Mountain Capital Inc. purchased a new stake in Salesforce in the 4th quarter worth $26,000. Signature Resources Capital Management LLC purchased a new stake in Salesforce in the 4th quarter worth $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in Salesforce in the 4th quarter worth $31,000. Pacifica Partners Inc. increased its stake 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 buying an additional 100 shares in the last quarter. Finally, Red Tortoise LLC purchased a new stake in Salesforce in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent research reports. Evercore ISI raised their target price on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Bank of America raised their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler reissued a “neutral” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Jefferies Financial Group raised their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday. Finally, StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

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.