Amy E. Weaver Sells 6,221 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Salesforce Price Performance

Salesforce stock opened at $324.77 on Friday. The stock has a market capitalization of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The company’s fifty day moving average price is $337.25 and its 200 day moving average price is $291.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the third quarter valued at about $27,000. Godsey & Gibb Inc. grew its stake in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the 2nd quarter valued at about $33,000. Annapolis Financial Services LLC boosted its holdings in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $55,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRM. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Macquarie reaffirmed a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. The Goldman Sachs Group increased their price objective on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Scotiabank lifted their target price on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.