Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells $235,254.24 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 708 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the transaction, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at $411,694.92. This represents a 36.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 23rd, Brian Millham sold 16,487 shares of Salesforce stock. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16.
• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00.

Salesforce Stock Performance

Shares of CRM stock opened at $333.47 on Friday. The stock has a market capitalization of $319.13 billion, a P/E ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30. 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 firm’s 50 day moving average is $336.73 and its 200 day moving average is $294.01. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Trading of Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter worth $33,000. Godsey & Gibb Inc. increased its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC increased its holdings in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Salesforce in the 3rd quarter valued at $53,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CRM. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Needham & Company LLC boosted their target price on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.