Salesforce, Inc. (NYSE:CRM) Director Sells $2,533,854.40 in Stock

Salesforce, Inc. (NYSE:CRM) Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Salesforce Price Performance

CRM stock opened at $276.64 on Monday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a 50-day moving average of $256.26 and a two-hundred day moving average of $265.02. The firm has a market capitalization of $268.06 billion, a PE ratio of 49.76, a P/E/G ratio of 2.39 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business posted $1.63 EPS. The company’s revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. Canaccord Genuity Group increased their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Citigroup boosted their price target on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Robert W. Baird lifted their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Eight equities 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $308.03.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares during the period. Capital World Investors boosted its stake in shares of Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after buying an additional 457,463 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after acquiring an additional 736,986 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Salesforce by 26.9% in the first 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. Finally, Capital International Investors raised its holdings in shares of Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.