Salesforce, Inc. (NYSE:CRM) Insider R David Schmaier Sells 8,281 Shares

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 8,281 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $2,261,955.15. Following the completion of the transaction, the insider now directly owns 18,787 shares of the company’s stock, valued at $5,131,669.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

R David Schmaier also recently made the following trade(s):

• On Tuesday, April 16th, R David Schmaier sold 3,910 shares of Salesforce stock. The shares were sold at an average price of $274.77, for a total value of $1,074,350.70.

Salesforce Price Performance

Shares of NYSE CRM traded up $2.82 during trading on Tuesday, hitting $276.63. The company had a trading volume of 6,283,041 shares, compared to its average volume of 5,718,907. The firm has a market capitalization of $268.33 billion, a price-to-earnings ratio of 65.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28. The stock has a fifty day simple moving average of $296.91 and a two-hundred day simple moving average of $263.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is currently 9.52%.

Institutional Investors Weigh In On Salesforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Capital World Investors lifted its position in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after buying an additional 457,463 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after acquiring an additional 752,566 shares during the period. Capital International Investors boosted its position in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after acquiring an additional 5,935,973 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Salesforce by 1.1% in the third quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock valued at $2,270,144,000 after purchasing an additional 121,436 shares during the period. Finally, Norges Bank acquired a new stake in Salesforce during the fourth quarter worth about $2,762,331,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. UBS Group raised their target price on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Jefferies Financial Group upped their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup raised their price objective on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Mizuho reaffirmed a “buy” rating and set a $345.00 target price (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $310.61.

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.