Insider Selling: Salesforce, Inc. (NYSE:CRM) CAO Sells $20,160.36 in Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 66 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $20,160.36. Following the completion of the sale, the chief accounting officer now owns 5,911 shares of the company’s stock, valued at approximately $1,805,574.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Salesforce Trading Down 0.1 %

NYSE:CRM opened at $301.18 on Friday. The stock has a market capitalization of $292.14 billion, a price-to-earnings ratio of 71.71, a PEG ratio of 2.32 and a beta of 1.28. Salesforce, Inc. has a 1 year low of $187.31 and a 1 year high of $318.71. The stock has a fifty day moving average price of $294.19 and a two-hundred day moving average price of $252.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the business earned $1.01 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s dividend payout ratio is presently 9.52%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRM shares. Truist Financial reaffirmed a “buy” rating and set a $360.00 price target (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Evercore ISI increased their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. UBS Group boosted their price objective on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird upped their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $304.32.

Hedge Funds Weigh In On Salesforce

Several hedge funds have recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. purchased a new position in Salesforce in the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the fourth quarter worth approximately $26,000. Aspect Partners LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $29,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the 4th quarter valued at $31,000. Finally, Main Street Group LTD acquired a new stake in shares of Salesforce during the fourth quarter worth $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.