Brian Millham Sells 5,735 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,735 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $266.22, for a total transaction of $1,526,771.70. Following the sale, the chief operating officer now directly owns 1,663 shares in the company, valued at $442,723.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00.
• On Wednesday, July 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $253.63, for a total value of $245,767.47.
• On Monday, July 22nd, Brian Millham sold 2,037 shares of Salesforce stock. The shares were sold at an average price of $248.75, for a total value of $506,703.75.
• On Friday, June 28th, Brian Millham sold 2,018 shares of Salesforce stock. The shares were sold at an average price of $260.00, for a total value of $524,680.00.

Salesforce Price Performance

Shares of CRM opened at $270.44 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a market cap of $262.06 billion, a P/E ratio of 48.64, a PEG ratio of 2.26 and a beta of 1.29. The firm’s 50 day moving average price is $254.66 and its 200 day moving average price is $265.66.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm earned $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce’s payout ratio is 28.78%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Friday, September 6th. Raymond James lifted their price objective on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. BNP Paribas upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Finally, Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $307.73.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRM. Spartan Planning & Wealth Management lifted its position in shares of Salesforce by 66.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after purchasing an additional 625 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after acquiring an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Salesforce by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after acquiring an additional 95 shares in the last quarter. Finally, XN LP lifted its stake in Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.