Salesforce, Inc. (NYSE:CRM) Director Sells $249,995,253.00 in Stock

Salesforce, Inc. (NYSE:CRM) Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

G Mason Morfit also recently made the following trade(s):

• On Friday, December 20th, G Mason Morfit sold 15,353 shares of Salesforce stock. The shares were sold at an average price of $340.55, for a total transaction of $5,228,464.15.

Salesforce Trading Up 2.2 %

Shares of NYSE CRM traded up $7.42 during mid-day trading on Friday, reaching $343.65. 14,740,856 shares of the company’s stock were exchanged, compared to its average volume of 6,451,860. The company’s 50-day moving average is $322.03 and its 200-day moving average is $278.26. 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 firm has a market capitalization of $328.87 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Veritas Asset Management LLP purchased a new stake in shares of Salesforce during the third quarter worth $733,805,000. Massachusetts Financial Services Co. MA grew its stake in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. KBC Group NV increased its holdings in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the period. International Assets Investment Management LLC raised its position in Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after purchasing an additional 998,628 shares in the last quarter. Finally, Farallon Capital Management LLC boosted its stake in shares of Salesforce by 51.0% in the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock valued at $757,632,000 after buying an additional 994,670 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRM has been the subject of several recent analyst reports. Sanford C. Bernstein lifted their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Guggenheim reaffirmed a “neutral” rating on shares of Salesforce in a research note on Wednesday, December 4th. Bank of America lifted their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird upped their price objective on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $378.86.

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.