Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 5,801 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,801 shares of Salesforce stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $279.10, for a total value of $1,619,059.10. Following the sale, the chief operating officer now owns 4,204 shares in the company, valued at $1,173,336.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, April 1st, Brian Millham sold 24,453 shares of Salesforce stock. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24.
• On Monday, March 25th, Brian Millham sold 1,679 shares of Salesforce stock. The stock was sold at an average price of $305.46, for a total transaction of $512,867.34.
• On Friday, March 22nd, Brian Millham sold 14,516 shares of Salesforce stock. The shares were sold at an average price of $309.32, for a total transaction of $4,490,089.12.
• On Thursday, February 22nd, Brian Millham sold 14,517 shares of Salesforce stock. The shares were sold at an average price of $292.50, for a total value of $4,246,222.50.
• On Wednesday, January 24th, Brian Millham sold 393 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total value of $110,040.00.

Salesforce Price Performance

NYSE CRM traded up $2.82 on Tuesday, reaching $276.63. The company’s stock had a trading volume of 6,283,041 shares, compared to its average volume of 5,718,907. Salesforce, Inc. has a 52 week low of $190.57 and a 52 week high of $318.71. The firm has a market cap of $268.33 billion, a PE ratio of 65.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28. The business has a 50-day moving average price of $296.91 and a 200 day moving average price of $263.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. Sell-side analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio is 9.52%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Capital World Investors grew its stake in shares of Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after purchasing an additional 457,463 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Salesforce by 5.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after acquiring an additional 752,566 shares during the last quarter. Capital International Investors lifted its stake in shares of Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after acquiring an additional 5,935,973 shares during the period. Northern Trust Corp increased its position in Salesforce by 1.1% in the third quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after purchasing an additional 121,436 shares during the period. Finally, Norges Bank bought a new stake in Salesforce during the 4th quarter worth about $2,762,331,000. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRM. Citigroup raised their price objective on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. JMP Securities restated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th. Mizuho reaffirmed a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Truist Financial reissued a “buy” rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

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.