Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 458 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 458 shares of Salesforce stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Salesforce Trading Down 0.5 %

NYSE:CRM opened at $308.27 on Tuesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $332.36 and a 200 day simple moving average of $306.60. The firm has a market capitalization of $295.01 billion, a P/E ratio of 50.70, a P/E/G ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the firm posted $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Scotiabank boosted their price objective on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. BMO Capital Markets lowered their target price on Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Piper Sandler set a $405.00 price target on Salesforce in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $375.53.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Joel Isaacson & Co. LLC increased its holdings in shares of Salesforce by 17.3% during the third quarter. Joel Isaacson & Co. LLC now owns 2,349 shares of the CRM provider’s stock valued at $643,000 after purchasing an additional 346 shares during the period. PFG Investments LLC grew its position in Salesforce by 5.4% in the 3rd quarter. PFG Investments LLC now owns 6,618 shares of the CRM provider’s stock valued at $1,811,000 after buying an additional 342 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Salesforce by 25.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 259 shares of the CRM provider’s stock valued at $71,000 after buying an additional 53 shares during the period. Modera Wealth Management LLC raised its position in shares of Salesforce by 15.7% during the 3rd quarter. Modera Wealth Management LLC now owns 24,341 shares of the CRM provider’s stock worth $6,662,000 after buying an additional 3,308 shares in the last quarter. Finally, Bristlecone Advisors LLC lifted its stake in shares of Salesforce by 0.8% in the 3rd quarter. Bristlecone Advisors LLC now owns 7,332 shares of the CRM provider’s stock worth $2,007,000 after acquiring an additional 60 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.