Brian Millham Sells 5,735 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,735 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $266.22, for a total value of $1,526,771.70. Following the completion of the transaction, the chief operating officer now directly owns 1,663 shares in the company, valued at approximately $442,723.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00.
• On Wednesday, July 24th, Brian Millham sold 969 shares of Salesforce stock. The shares were sold at an average price of $253.63, for a total transaction of $245,767.47.
• On Monday, July 22nd, Brian Millham sold 2,037 shares of Salesforce stock. The shares were sold at an average price of $248.75, for a total transaction of $506,703.75.
• On Friday, June 28th, Brian Millham sold 2,018 shares of Salesforce stock. The shares were sold at an average price of $260.00, for a total transaction of $524,680.00.

Salesforce Price Performance

Shares of CRM opened at $264.21 on Tuesday. The company has a market capitalization of $256.02 billion, a P/E ratio of 47.52, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $254.37 and a 200 day moving average of $265.91. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results 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. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.61%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spartan Planning & Wealth Management boosted its holdings in Salesforce by 66.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after purchasing an additional 625 shares during the last quarter. Parnassus Investments LLC boosted its holdings in Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after purchasing an additional 18,397 shares during the last quarter. TD Asset Management Inc boosted its holdings in Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after purchasing an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Salesforce by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after purchasing an additional 95 shares during the last quarter. Finally, XN LP boosted its stake in shares of Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after acquiring an additional 90,616 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America restated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Friday, September 6th. Mizuho cut their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Jefferies Financial Group dropped their target price on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.00.

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.