Salesforce, Inc. (NYSE:CRM) Insider Sells $295,425.90 in Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 1,155 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $295,425.90. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $5,257,813.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Salesforce Price Performance

NYSE:CRM opened at $256.53 on Friday. The firm has a market cap of $248.58 billion, a price-to-earnings ratio of 46.14, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average is $251.65 and its two-hundred day moving average is $275.37.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. Salesforce’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a $0.40 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s payout ratio is currently 28.78%.

Institutional Trading of Salesforce

Hedge funds have recently added to or reduced their stakes in the business. St. Johns Investment Management Company LLC raised its position in shares of Salesforce by 12.3% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 6,550 shares of the CRM provider’s stock worth $1,684,000 after buying an additional 716 shares during the period. Pegasus Asset Management Inc. increased its holdings in Salesforce by 1.0% in the 2nd quarter. Pegasus Asset Management Inc. now owns 16,312 shares of the CRM provider’s stock valued at $4,194,000 after purchasing an additional 154 shares in the last quarter. SlateStone Wealth LLC raised its position in Salesforce by 10.2% in the second quarter. SlateStone Wealth LLC now owns 1,673 shares of the CRM provider’s stock valued at $430,000 after purchasing an additional 155 shares during the period. Bailard Inc. lifted its stake in shares of Salesforce by 1.5% during the second quarter. Bailard Inc. now owns 20,380 shares of the CRM provider’s stock worth $5,240,000 after purchasing an additional 310 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its position in shares of Salesforce by 0.8% in the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock worth $1,254,000 after buying an additional 39 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on CRM. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 target price on shares of Salesforce in a report on Friday, May 24th. Truist Financial reaffirmed a “buy” rating and set a $300.00 target price (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. JPMorgan Chase & Co. reduced their price objective on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Sanford C. Bernstein upped their target price on Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research report on Thursday, May 30th. Finally, Barclays decreased their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $292.79.

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.