Salesforce, Inc. (NYSE:CRM) CFO Sells $1,872,521.00 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $14,071,750. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Salesforce Stock Down 2.0 %

CRM opened at $286.01 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $273.72 billion, a price-to-earnings ratio of 47.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The business has a 50-day moving average of $324.79 and a two-hundred day moving average of $308.06. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Salesforce during the 4th quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after purchasing an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $1,173,564,000. Invesco Ltd. increased its holdings in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRM has been the subject of several research analyst reports. Guggenheim reiterated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Northland Securities reiterated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Macquarie cut their price objective on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.62.

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.