Salesforce, Inc. (NYSE:CRM) COO Sells $406,612.96 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 1,678 shares of Salesforce stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $406,612.96. Following the transaction, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $402,735.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Brian Millham also recently made the following trade(s):

• On Wednesday, May 22nd, Brian Millham sold 6,162 shares of Salesforce stock. The stock was sold at an average price of $283.41, for a total value of $1,746,372.42.
• On Wednesday, May 15th, Brian Millham sold 2,106 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total value of $589,680.00.
• On Wednesday, April 24th, Brian Millham sold 4,204 shares of Salesforce stock. The shares were sold at an average price of $278.00, for a total transaction of $1,168,712.00.
• On Monday, April 22nd, Brian Millham sold 5,801 shares of Salesforce stock. The stock was sold at an average price of $279.10, for a total transaction of $1,619,059.10.
• On Monday, April 1st, Brian Millham sold 24,453 shares of Salesforce stock. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24.

Salesforce Stock Performance

NYSE:CRM opened at $243.10 on Thursday. The stock’s 50-day moving average is $261.10 and its 200-day moving average is $276.56. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $235.56 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 EPS. Equities research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Analysts Set New Price Targets

CRM has been the topic of a number of recent research reports. Wedbush lowered their target price on Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 29th. Stifel Nicolaus lowered their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company decreased their price target on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. UBS Group dropped their price objective on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Piper Sandler decreased their target price on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently made changes to their positions in CRM. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce in the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at $26,000. Red Tortoise LLC acquired a new stake in shares of Salesforce during the first quarter worth $33,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in Salesforce during the fourth quarter worth $31,000. Institutional investors own 80.43% of the company’s stock.

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.