Salesforce, Inc. (NYSE:CRM) Insider Miguel Milano Sells 719 Shares

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 719 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. The trade was a 13.37 % 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 3.8 %

Shares of NYSE CRM opened at $330.01 on Thursday. The stock has a market capitalization of $315.49 billion, a P/E ratio of 57.39, a PEG ratio of 3.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The firm’s 50 day simple moving average is $299.57 and its two-hundred day simple moving average is $269.87.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Scotiabank initiated coverage on Salesforce in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 price objective on the stock. UBS Group upped their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $341.89.

Hedge Funds Weigh In On Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC grew its holdings in Salesforce by 34.0% in the 1st quarter. Gabelli Funds LLC now owns 2,150 shares of the CRM provider’s stock worth $648,000 after acquiring an additional 545 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in Salesforce by 59.2% in the first quarter. Mount Yale Investment Advisors LLC now owns 1,258 shares of the CRM provider’s stock valued at $379,000 after acquiring an additional 468 shares in the last quarter. Waverly Advisors LLC increased its position in Salesforce by 134.0% during the 1st quarter. Waverly Advisors LLC now owns 9,663 shares of the CRM provider’s stock valued at $2,910,000 after purchasing an additional 5,534 shares during the period. Janus Henderson Group PLC raised its holdings in Salesforce by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 648,753 shares of the CRM provider’s stock worth $195,189,000 after purchasing an additional 21,298 shares in the last quarter. Finally, Interval Partners LP lifted its position in shares of Salesforce by 157.1% in the 1st quarter. Interval Partners LP now owns 36,000 shares of the CRM provider’s stock worth $10,842,000 after purchasing an additional 22,000 shares during the period. 80.43% of the stock is currently owned by institutional investors.

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.