Salesforce (NYSE:CRM) Director Sells $1,172,745.00 in Stock

Salesforce Inc. (NYSE:CRM) Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director owned 5,437 shares of the company’s stock, valued at $1,416,936.57. The trade was a 45.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Salesforce Stock Down 1.9%

CRM traded down $5.04 on Friday, hitting $259.39. 10,470,505 shares of the company were exchanged, compared to its average volume of 14,084,419. The stock’s fifty day moving average is $189.85 and its 200-day moving average is $184.47. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $213.48 billion, a PE ratio of 23.65, a PEG ratio of 1.19 and a beta of 1.20.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The firm had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.33 billion. During the same period last year, the company earned $2.91 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Equities research analysts predict that Salesforce Inc. will post 12.64 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 17th. Salesforce’s dividend payout ratio is 16.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRM. TD Cowen upped their target price on shares of Salesforce from $240.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Phillip Securities cut shares of Salesforce from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $253.00 to $166.00 in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salesforce in a research report on Thursday, August 27th. KeyCorp downgraded shares of Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. Finally, HC Wainwright downgraded shares of Salesforce to a “negative” rating in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $266.50.

More Salesforce News

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
• Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
• Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently added to or reduced their stakes in CRM. California State Teachers Retirement System lifted its position in Salesforce by 13,260.5% during the second quarter. California State Teachers Retirement System now owns 188,085,056 shares of the CRM provider’s stock worth $29,465,405,000 after purchasing an additional 186,677,290 shares during the period. BlackRock Inc. bought a new position in Salesforce in the second quarter valued at approximately $11,396,844,000. J. Stern & Co. LLP raised its position in Salesforce by 24,056.7% during the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Salesforce in the 2nd quarter valued at $1,914,086,000. Finally, Norges Bank acquired a new position in shares of Salesforce during the 4th quarter worth $3,182,951,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.