Salesforce, Inc. (NYSE:CRM) COO Sells $512,867.34 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 1,679 shares of Salesforce stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $512,867.34. Following the completion of the transaction, the chief operating officer now owns 1,663 shares of the company’s stock, valued at $507,979.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value 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 shares were sold at an average price of $280.00, for a total value of $110,040.00.
• On Monday, January 22nd, Brian Millham sold 14,515 shares of Salesforce stock. The shares were sold at an average price of $284.00, for a total value of $4,122,260.00.
• On Friday, January 19th, Brian Millham sold 293,965 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total value of $82,310,200.00.

Salesforce Price Performance

CRM stock traded down $0.22 on Tuesday, reaching $305.84. The company had a trading volume of 3,892,806 shares, compared to its average volume of 5,812,057. Salesforce, Inc. has a 1 year low of $187.31 and a 1 year high of $318.71. The company has a market cap of $296.66 billion, a P/E ratio of 72.82, a PEG ratio of 2.37 and a beta of 1.28. The company’s fifty day moving average is $292.85 and its 200 day moving average is $251.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s payout ratio is 9.52%.

Institutional Trading of Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Salesforce by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 83,626,413 shares of the CRM provider’s stock valued at $22,005,454,000 after purchasing an additional 1,240,821 shares in the last quarter. State Street Corp increased its holdings in Salesforce by 0.3% in the 2nd quarter. State Street Corp now owns 45,653,307 shares of the CRM provider’s stock valued at $9,644,718,000 after purchasing an additional 143,962 shares in the last quarter. Capital World Investors increased its holdings in Salesforce by 2.4% in the 4th 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 in the last quarter. Morgan Stanley increased its holdings in Salesforce by 0.8% in the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock valued at $2,519,719,000 after purchasing an additional 149,012 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after purchasing an additional 752,566 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. Wedbush lifted their price target on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. BMO Capital Markets lifted their target price on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Wolfe Research upgraded Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price on the stock in a research report on Monday, December 18th. Finally, Piper Sandler reiterated a “neutral” rating and set a $285.00 target price on shares of Salesforce in a research report on Wednesday, February 28th. Nine investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $304.32.

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.