Salesforce, Inc. (NYSE:CRM) Insider Sells $1,074,350.70 in Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 3,910 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,074,350.70. Following the sale, the insider now directly owns 19,463 shares of the company’s stock, valued at approximately $5,347,848.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Salesforce Stock Performance

Salesforce stock opened at $270.45 on Friday. The business’s 50-day moving average price is $297.28 and its two-hundred day moving average price is $261.43. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $262.34 billion, a PE ratio of 64.39, a P/E/G ratio of 2.13 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share. As a group, analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently made changes to their positions in CRM. Bear Mountain Capital Inc. acquired a new position in Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce in the fourth quarter valued at approximately $26,000. Red Tortoise LLC acquired a new position in Salesforce in the first quarter valued at approximately $33,000. Aspect Partners LLC acquired a new position in Salesforce in the fourth quarter valued at approximately $29,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the fourth quarter valued at approximately $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRM. Evercore ISI raised their price target on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price target on shares of Salesforce in a report on Tuesday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

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.