Amy E. Weaver Sells 5,864 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 5,864 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,611,251.28. Following the transaction, the chief financial officer now owns 45,231 shares of the company’s stock, valued at $12,428,121.87. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Salesforce Stock Down 0.4 %

CRM stock traded down $1.08 during mid-day trading on Wednesday, reaching $276.33. The company had a trading volume of 4,198,638 shares, compared to its average volume of 5,706,728. The company has a market capitalization of $268.04 billion, a price-to-earnings ratio of 65.90, a PEG ratio of 2.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a 50 day simple moving average of $298.35 and a two-hundred day simple moving average of $260.79. Salesforce, Inc. has a 52 week low of $190.57 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company posted $1.01 earnings per share. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued 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 was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Institutional Investors Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently modified their holdings of CRM. Walkner Condon Financial Advisors LLC increased its stake in shares of Salesforce by 2.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares during the period. Pure Financial Advisors LLC bought a new position in shares of Salesforce in the 4th quarter worth $214,000. Riversedge Advisors LLC lifted its holdings in shares of Salesforce by 21.7% in the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after purchasing an additional 420 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in shares of Salesforce in the 3rd quarter worth $2,499,000. Finally, Lone Pine Capital LLC lifted its holdings in shares of Salesforce by 47.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after purchasing an additional 804,634 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRM. Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday. Bank of America raised their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Evercore ISI raised their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Citigroup upped their price target on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, Argus boosted their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

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.