Brian Millham Sells 14,808 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 14,808 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Brian Millham also recently made the following trade(s):

• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00.
• On Thursday, October 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $286.56, for a total transaction of $277,676.64.
• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00.
• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The shares were sold at an average price of $266.22, for a total value of $1,526,771.70.

Salesforce Price Performance

Shares of NYSE:CRM opened at $342.02 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $326.97 billion, a price-to-earnings ratio of 59.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. The business has a 50-day simple moving average of $294.61 and a two-hundred day simple moving average of $268.60. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $9.22 billion. During the same period in the previous year, the company earned $1.63 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent research reports. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. TD Cowen boosted their price objective on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday. UBS Group increased their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday. Truist Financial restated a “buy” rating and set a $315.00 price target (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, Canaccord Genuity Group increased their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $336.37.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Piscataqua Savings Bank increased its holdings in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the 3rd quarter worth $27,000. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Stephens Consulting LLC lifted its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter valued at about $33,000. Hedge funds and other institutional investors 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.