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

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Salesforce Stock Down 0.2 %

Shares of NYSE CRM opened at $276.19 on Thursday. The firm has a market cap of $267.90 billion, a P/E ratio of 65.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The firm’s 50 day moving average price is $296.65 and its 200 day moving average price is $263.37.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for 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%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Wedbush boosted their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Wolfe Research reaffirmed an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. JMP Securities reissued a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th. Finally, BMO Capital Markets lifted their target price on Salesforce from $325.00 to $335.00 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRM. Graypoint LLC grew its holdings in Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares during the period. Chase Investment Counsel Corp boosted its holdings in shares of Salesforce by 0.3% in the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after buying an additional 36 shares during the period. Opes Wealth Management LLC grew its stake in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares during the period. Finally, Prentice Wealth Management LLC increased its holdings in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.