Amy E. Weaver Sells 6,221 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Salesforce Price Performance

Shares of Salesforce stock traded down $5.96 during trading on Tuesday, reaching $287.10. 9,094,490 shares of the company’s stock were exchanged, compared to its average volume of 6,876,717. 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. The company has a market cap of $274.76 billion, a P/E ratio of 47.22, a PEG ratio of 2.58 and a beta of 1.31. The firm’s 50-day moving average price is $328.10 and its 200 day moving average price is $308.16.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 EPS. As a group, research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is 25.16%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CRM shares. Citigroup restated a “cautious” rating on shares of Salesforce in a research note on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Guggenheim restated a “sell” rating and set a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $365.32.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce during the 4th quarter worth $25,000. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter worth $27,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter worth $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Finally, Compass Financial Services Inc bought a new position in Salesforce during the 4th quarter worth $30,000. Institutional investors own 80.43% of the company’s stock.

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.