Salesforce, Inc. (NYSE:CRM) COO Sells $1,526,771.70 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,735 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $266.22, for a total transaction of $1,526,771.70. Following the completion of the sale, the chief operating officer now owns 1,663 shares of the company’s stock, valued at approximately $442,723.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 transaction of $1,060,644.00.
• On Wednesday, July 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $253.63, for a total value of $245,767.47.
• On Monday, July 22nd, Brian Millham sold 2,037 shares of Salesforce stock. The stock was sold at an average price of $248.75, for a total value of $506,703.75.
• 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 value of $524,680.00.

Salesforce Stock Up 1.3 %

Shares of NYSE:CRM opened at $274.09 on Thursday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a 50-day simple moving average of $254.66 and a 200-day simple moving average of $265.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $262.03 billion, a P/E ratio of 49.30, a PEG ratio of 2.39 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. Equities analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Institutional Investors Weigh In On Salesforce

Large investors have recently modified their holdings of the stock. Greater Midwest Financial Group LLC boosted its holdings in Salesforce by 4.2% in the 2nd quarter. Greater Midwest Financial Group LLC now owns 20,768 shares of the CRM provider’s stock worth $5,302,000 after acquiring an additional 845 shares during the period. Centaurus Financial Inc. lifted its position in shares of Salesforce by 23.4% during the second quarter. Centaurus Financial Inc. now owns 12,464 shares of the CRM provider’s stock worth $3,204,000 after purchasing an additional 2,365 shares in the last quarter. Anchor Investment Management LLC boosted its stake in shares of Salesforce by 5.5% in the second quarter. Anchor Investment Management LLC now owns 3,709 shares of the CRM provider’s stock valued at $954,000 after purchasing an additional 195 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Salesforce by 130.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 187,072 shares of the CRM provider’s stock valued at $48,096,000 after purchasing an additional 105,972 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. increased its stake in Salesforce by 12.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 950 shares of the CRM provider’s stock worth $244,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Loop Capital reiterated a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Truist Financial reiterated a “buy” rating and issued a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. DA Davidson lifted their price objective on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their target price on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $307.73.

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.