Sundeep G. Reddy Sells 436 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Salesforce Trading Up 0.6 %

Shares of Salesforce stock traded up $2.13 during trading on Thursday, reaching $334.75. 4,351,873 shares of the stock were exchanged, compared to its average volume of 5,399,249. The firm has a market cap of $320.36 billion, a price-to-earnings ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock’s fifty day moving average is $336.50 and its 200 day moving average is $293.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is presently 26.32%.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Robert W. Baird raised their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, DA Davidson increased their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. One equities 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently bought and sold shares of the business. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter worth $33,000. Godsey & Gibb Inc. lifted its holdings in shares of 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 purchasing an additional 90 shares during the last quarter. Annapolis Financial Services LLC grew its stake in 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 buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Salesforce during the 3rd quarter valued at about $53,000. 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.