Amy E. Weaver Sells 897 Shares of Salesforce, Inc. (NYSE:CRM) Stock

by · The Markets Daily

Salesforce, Inc. (NYSE:CRM – Get Free Report) CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Salesforce Stock Down 1.4 %

Salesforce stock traded down $3.96 during trading hours on Wednesday, hitting $284.37. The stock had a trading volume of 3,225,595 shares, compared to its average volume of 6,364,500. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $275.55 billion, a P/E ratio of 51.15, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The stock’s 50-day moving average price is $268.70 and its 200-day moving average price is $263.24.

Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) 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 analysts’ expectations of $9.22 billion. During the same period in the previous year, the company earned $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s payout ratio is 28.78%.

Analysts Set New Price Targets

CRM has been the topic of a number of recent analyst reports. DA Davidson raised their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Stifel Nicolaus raised their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. BMO Capital Markets raised their price target on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Loop Capital reaffirmed a “hold” rating and set a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $311.66.

Get Our Latest Analysis on Salesforce

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CRM. Ruedi Wealth Management Inc. raised its holdings in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank grew its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC grew its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Red Tortoise LLC bought a new stake in Salesforce during the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC grew its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

About Salesforce

(Get Free Report)

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.

Read More