Brian Millham Sells 2,018 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 2,018 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $260.00, for a total value of $524,680.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, June 24th, Brian Millham sold 1,678 shares of Salesforce stock. The stock was sold at an average price of $242.32, for a total value of $406,612.96.
• On Wednesday, May 22nd, Brian Millham sold 6,162 shares of Salesforce stock. The stock was sold at an average price of $283.41, for a total transaction of $1,746,372.42.
• On Wednesday, May 15th, Brian Millham sold 2,106 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $589,680.00.
• On Wednesday, April 24th, Brian Millham sold 4,204 shares of Salesforce stock. The shares were sold at an average price of $278.00, for a total transaction of $1,168,712.00.
• On Monday, April 22nd, Brian Millham sold 5,801 shares of Salesforce stock. The stock was sold at an average price of $279.10, for a total value of $1,619,059.10.

Salesforce Stock Performance

CRM stock opened at $256.42 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The business has a 50-day moving average price of $259.43 and a 200 day moving average price of $276.46. The company has a market capitalization of $248.47 billion, a P/E ratio of 46.13, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s payout ratio is 7.19%.

Analysts Set New Price Targets

A number of research firms have issued reports on CRM. Sanford C. Bernstein lifted their price objective on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. JMP Securities restated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th. Barclays lowered their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. BMO Capital Markets reduced their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position 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 valued at $25,490,446,000 after buying an additional 1,008,841 shares during the last quarter. Capital World Investors raised 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 worth $5,147,402,000 after acquiring an additional 457,463 shares in the last quarter. Fisher Asset Management LLC lifted its position in Salesforce by 5.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after acquiring an additional 752,566 shares during the last quarter. Capital Research Global Investors boosted its stake in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors grew its holdings in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the last quarter. 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.