Salesforce, Inc. (NYSE:CRM) CFO Sells $2,089,882.74 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Salesforce Price Performance

Salesforce stock opened at $347.41 on Thursday. The stock has a market capitalization of $332.47 billion, a P/E ratio of 57.14, a P/E/G ratio of 3.09 and a beta of 1.31. The company’s fifty day moving average price is $338.69 and its 200 day moving average price is $299.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRM shares. Piper Sandler reissued an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. UBS Group increased their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. JMP Securities restated a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note 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. Finally, Truist Financial restated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $377.63.

Institutional Trading of Salesforce

Several large investors have recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the third quarter worth $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new stake in Salesforce in the 4th quarter valued at about $31,000. Finally, Collier Financial purchased a new position in Salesforce in the 4th quarter worth approximately $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.