Sundeep G. Reddy Sells 413 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Salesforce Stock Up 0.8 %

NYSE CRM opened at $286.74 on Friday. The company has a market cap of $277.85 billion, a price-to-earnings ratio of 51.57, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $268.70 and a 200-day moving average of $263.24.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 dividend on an annualized basis and a yield of 0.56%. Salesforce’s dividend payout ratio is currently 28.78%.

Hedge Funds Weigh In On Salesforce

Several large investors have recently bought and sold shares of CRM. Hoxton Planning & Management LLC acquired a new position in Salesforce in the 1st quarter valued at approximately $220,000. Sound Income Strategies LLC lifted its holdings in Salesforce by 44.5% during the 1st quarter. Sound Income Strategies LLC now owns 815 shares of the CRM provider’s stock worth $245,000 after buying an additional 251 shares during the period. Brookstone Capital Management lifted its holdings in Salesforce by 1.6% during the 1st quarter. Brookstone Capital Management now owns 39,088 shares of the CRM provider’s stock worth $11,773,000 after buying an additional 622 shares during the period. Sovereign Financial Group Inc. grew its position in shares of Salesforce by 5.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,147 shares of the CRM provider’s stock valued at $345,000 after buying an additional 57 shares during the last quarter. Finally, GoalVest Advisory LLC increased its stake in shares of Salesforce by 200.6% in the first quarter. GoalVest Advisory LLC now owns 932 shares of the CRM provider’s stock valued at $281,000 after buying an additional 622 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRM. BMO Capital Markets boosted their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Morgan Stanley raised their target price on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird raised their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $312.51.

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.