Salesforce, Inc. (NYSE:CRM) CEO Sells $176,054.19 in Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CEO Bret Steven Taylor sold 1,033 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $176,054.19. Following the completion of the transaction, the chief executive officer now owns 932,210 shares of the company’s stock, valued at $158,876,550.30. The sale was disclosed in a document filed with the SEC, which is available through this link.

Bret Steven Taylor also recently made the following trade(s):

  • On Monday, April 25th, Bret Steven Taylor sold 612 shares of Salesforce stock. The stock was sold at an average price of $171.68, for a total transaction of $105,068.16.

Shares of CRM traded up $5.60 during mid-day trading on Thursday, hitting $173.05. 7,218,586 shares of the company traded hands, compared to its average volume of 7,913,803. Salesforce, Inc. has a 1-year low of $154.55 and a 1-year high of $311.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $172.18 billion, a PE ratio of 167.55, a price-to-earnings-growth ratio of 4.57 and a beta of 1.16. The business has a 50 day moving average of $172.00 and a 200 day moving average of $205.29.

Salesforce (NYSE:CRMGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The CRM provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, research analysts expect that Salesforce, Inc. will post 2.18 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CRM. Norges Bank purchased a new stake in Salesforce in the fourth quarter valued at approximately $2,689,030,000. Jennison Associates LLC boosted its position in Salesforce by 42.2% in the 4th quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock worth $3,509,260,000 after purchasing an additional 4,096,666 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in Salesforce by 76,897.5% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,727,250 shares of the CRM provider’s stock worth $12,845,000 after purchasing an additional 2,723,708 shares in the last quarter. Vanguard Group Inc. boosted its position in Salesforce by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 77,620,937 shares of the CRM provider’s stock worth $16,480,478,000 after purchasing an additional 1,458,042 shares in the last quarter. Finally, State Street Corp boosted its position in Salesforce by 3.3% in the 4th quarter. State Street Corp now owns 44,253,857 shares of the CRM provider’s stock worth $11,246,233,000 after purchasing an additional 1,417,895 shares in the last quarter. Hedge funds and other institutional investors own 77.75% of the company’s stock.

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Salesforce from $300.00 to $260.00 in a research report on Wednesday, June 1st. Royal Bank of Canada set a $325.00 price objective on shares of Salesforce in a research report on Wednesday, March 2nd. Canaccord Genuity Group cut their price objective on shares of Salesforce from $315.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. William Blair reaffirmed an “outperform” rating on shares of Salesforce in a report on Wednesday, June 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Salesforce from $316.00 to $275.00 in a report on Wednesday, June 1st. Four investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.50.

Salesforce Company Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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