Salesforce, Inc. (NYSE:CRM) COO Sells $1,785,149.75 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 6,161 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total value of $1,785,149.75. Following the completion of the transaction, the chief operating officer now owns 969 shares in the company, valued at approximately $280,767.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value 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 transaction of $1,526,771.70.
• 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 transaction 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.

Salesforce Stock Performance

NYSE CRM opened at $284.37 on Thursday. The business’s 50 day moving average price is $268.70 and its 200-day moving average price is $263.24. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a market cap of $275.55 billion, a P/E ratio of 51.15, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of CRM. Global Assets Advisory LLC bought a new position in shares of Salesforce in the first quarter worth about $8,557,000. Mechanics Bank Trust Department bought a new position in Salesforce in the 1st quarter worth about $230,000. Fermata Advisors LLC purchased a new position in shares of Salesforce during the first quarter worth approximately $418,000. Hoxton Planning & Management LLC bought a new stake in shares of Salesforce during the first quarter valued at approximately $220,000. Finally, Exchange Bank purchased a new stake in shares of Salesforce in the first quarter valued at approximately $229,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Wedbush raised their target price on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Bank of America reaffirmed a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Stifel Nicolaus upped their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $311.66.

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.