Insider Selling: Salesforce, Inc. (NYSE:CRM) CAO Sells 500 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares in the company, valued at approximately $1,888,236.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Salesforce Stock Up 3.2 %

Shares of CRM stock opened at $306.90 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12 month low of $208.84 and a 12 month high of $318.71. The stock has a market cap of $293.40 billion, a P/E ratio of 53.37, a P/E/G ratio of 2.67 and a beta of 1.29. The company has a 50 day simple moving average of $275.30 and a two-hundred day simple moving average of $263.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current 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 given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s payout ratio is currently 27.83%.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank lifted its stake in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC increased its stake in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the 2nd quarter worth approximately $33,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRM. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $313.37.

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.