Insider Selling: Salesforce, Inc. (NYSE:CRM) CAO Sells $17,210.70 in Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 65 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total value of $17,210.70. Following the sale, the chief accounting officer now directly owns 6,509 shares in the company, valued at $1,723,453.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Salesforce Price Performance

Shares of CRM stock opened at $274.09 on Thursday. The company has a market cap of $262.03 billion, a P/E ratio of 49.30, a PEG ratio of 2.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average is $254.66 and its 200 day moving average is $265.66. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

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 analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. Research analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio is presently 28.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Loop Capital reiterated a “hold” rating and issued a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Finally, Mizuho reduced their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.73.

Institutional Trading of Salesforce

A number of institutional investors have recently made changes to their positions in the business. Gilbert & Cook Inc. raised its position in shares of Salesforce by 6.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock valued at $1,489,000 after purchasing an additional 366 shares during the last quarter. Aveo Capital Partners LLC raised its holdings in shares of Salesforce by 44.7% in the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after buying an additional 496 shares during the last quarter. 9258 Wealth Management LLC lifted its stake in shares of Salesforce by 24.0% during the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after buying an additional 1,253 shares during the period. Gryphon Financial Partners LLC grew its holdings in shares of Salesforce by 32.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock valued at $1,064,000 after buying an additional 970 shares during the last quarter. Finally, TrinityPoint Wealth LLC increased its position in shares of Salesforce by 1.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock valued at $2,115,000 after acquiring an additional 133 shares during the period. 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.