Salesforce, Inc. (NYSE:CRM) Director Sells $249,995,253.00 in Stock

Salesforce, Inc. (NYSE:CRM) Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

G Mason Morfit also recently made the following trade(s):

• On Friday, December 20th, G Mason Morfit sold 15,353 shares of Salesforce stock. The shares were sold at an average price of $340.55, for a total value of $5,228,464.15.

Salesforce Stock Performance

Shares of CRM opened at $343.65 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $328.87 billion, a P/E ratio of 56.52, a P/E/G ratio of 3.21 and a beta of 1.30. The business’s 50 day moving average price is $323.14 and its 200-day moving average price is $279.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRM. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Loop Capital increased their target price on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Northland Securities reiterated an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Truist Financial restated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $378.86.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the third quarter worth approximately $27,000. Clear Investment Research LLC lifted its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Stephens Consulting LLC grew its holdings in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the second quarter valued at $33,000. Finally, Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

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.