Salesforce, Inc. (NYSE:CRM) Insider Sells $514,686.90 in Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Salesforce Stock Down 1.1 %

Shares of NYSE:CRM opened at $277.88 on Friday. The company has a market cap of $267.04 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a fifty day moving average price of $310.49 and a two-hundred day moving average price of $310.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.60%. Salesforce’s dividend payout ratio is currently 25.16%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird decreased their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Institutional Trading of Salesforce

A number of large investors have recently modified their holdings of CRM. United Bank raised its position in shares of Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after buying an additional 76 shares in the last quarter. Fernbridge Capital Management LP raised its position in Salesforce by 19.2% during the third quarter. Fernbridge Capital Management LP now owns 1,072,422 shares of the CRM provider’s stock valued at $293,533,000 after purchasing an additional 172,534 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Salesforce by 130.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 431,492 shares of the CRM provider’s stock worth $118,104,000 after purchasing an additional 244,420 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Salesforce by 36.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,935 shares of the CRM provider’s stock worth $2,719,000 after purchasing an additional 2,664 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Salesforce during the 3rd quarter valued at about $147,000. 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.