Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 2,037 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 2,037 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total transaction of $506,703.75. Following the completion of the sale, the chief operating officer now owns 1,947 shares of the company’s stock, valued at $484,316.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, June 28th, Brian Millham sold 2,018 shares of Salesforce stock. The shares were sold at an average price of $260.00, for a total transaction of $524,680.00.
• On Monday, June 24th, Brian Millham sold 1,678 shares of Salesforce stock. The shares were sold at an average price of $242.32, for a total transaction of $406,612.96.
• On Wednesday, May 22nd, Brian Millham sold 6,162 shares of Salesforce stock. The shares were sold at an average price of $283.41, for a total transaction of $1,746,372.42.
• On Wednesday, May 15th, Brian Millham sold 2,106 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $589,680.00.
• On Wednesday, April 24th, Brian Millham sold 4,204 shares of Salesforce stock. The shares were sold at an average price of $278.00, for a total transaction of $1,168,712.00.

Salesforce Price Performance

NYSE CRM traded up $1.98 on Tuesday, reaching $256.06. The company’s stock had a trading volume of 3,892,196 shares, compared to its average volume of 6,830,894. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $248.12 billion, a PE ratio of 46.05, a PEG ratio of 2.17 and a beta of 1.29. The firm’s 50 day moving average is $252.97 and its two-hundred day moving average is $275.68.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 28.78%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CRM shares. Stifel Nicolaus reduced their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Barclays reduced their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Mizuho reduced their target price on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Robert W. Baird reduced their target price on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Institutional Trading of Salesforce

A number of hedge funds have recently bought and sold shares of CRM. Bear Mountain Capital Inc. purchased a new stake in Salesforce during the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Ruedi Wealth Management Inc. increased its holdings in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce in the 4th quarter valued at about $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.