Salesforce, Inc. (NYSE:CRM) Insider Miguel Milano Sells 458 Shares

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Salesforce Stock Down 0.5 %

CRM traded down $1.53 during trading on Monday, hitting $308.27. 6,645,582 shares of the company’s stock were exchanged, compared to its average volume of 6,257,510. The stock has a market cap of $295.01 billion, a P/E ratio of 50.70, a PEG ratio of 2.58 and a beta of 1.31. The business’s 50 day moving average is $332.36 and its two-hundred day moving average is $306.60. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced 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). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. As a group, equities analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s payout ratio is 26.32%.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at about $27,000. Arlington Trust Co LLC boosted its holdings 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 purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the 4th quarter worth about $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter valued at about $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRM shares. Barclays upped their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upped their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price objective on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price objective on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus upped their price objective on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $375.53.

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.