Brian Millham Sells 708 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 708 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at $411,694.92. This trade represents a 36.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, December 23rd, Brian Millham sold 16,487 shares of Salesforce stock. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16.
• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00.

Salesforce Stock Performance

CRM opened at $333.47 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $319.13 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30. The company’s 50 day moving average is $336.73 and its 200 day moving average is $294.01. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the firm earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Institutional Investors Weigh In On Salesforce

Several institutional investors and hedge funds have recently modified their holdings of CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the second quarter valued at approximately $33,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC increased its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Salesforce in the third quarter worth $53,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Bank of America increased their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $377.63.

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.