Brian Millham Sells 969 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 969 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00.
• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The stock was sold at an average price of $266.22, for a total value of $1,526,771.70.
• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00.

Salesforce Stock Performance

CRM traded up $3.70 on Friday, hitting $290.46. 3,349,447 shares of the company’s stock were exchanged, compared to its average volume of 6,334,725. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $269.18 and a two-hundred day moving average of $263.40. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The firm has a market cap of $281.46 billion, a PE ratio of 52.24, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the firm earned $1.63 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Institutional Trading of Salesforce

A number of large investors have recently modified their holdings of CRM. Prentice Wealth Management LLC increased its holdings in Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares in the last quarter. Fox Hill Wealth Management raised its position in shares of Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after acquiring an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares during the period. Fulton Bank N.A. boosted its stake in shares of Salesforce by 0.4% in the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 38 shares during the last quarter. Finally, CRA Financial Services LLC grew its position in shares of Salesforce by 3.4% during the 3rd quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Oppenheimer reissued an “outperform” rating and issued a $330.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday. TD Cowen lifted their target price on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Morgan Stanley upped their price target on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Citigroup boosted their price objective on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $312.51.

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.