Amy E. Weaver Sells 897 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Salesforce Trading Down 1.4 %

Shares of CRM traded down $3.96 during midday trading on Wednesday, hitting $284.37. The stock had a trading volume of 3,225,595 shares, compared to its average volume of 6,364,500. The stock’s 50 day moving average is $268.70 and its 200 day moving average is $263.24. The firm has a market cap of $275.55 billion, a PE ratio of 51.15, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $1.63 EPS. As a group, analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently made changes to their positions in CRM. Capital Research Global Investors lifted its holdings in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC bought a new stake in Salesforce during the 1st quarter valued at about $910,220,000. Swedbank AB bought a new stake in Salesforce during the 1st quarter valued at about $874,748,000. Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after buying an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after buying an additional 1,139,472 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Raymond James upped their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Citigroup upped their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Truist Financial reiterated a “buy” rating and issued a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.66.

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.