Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 1,785 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 1,785 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Salesforce Price Performance

Salesforce stock opened at $338.45 on Monday. The firm has a market capitalization of $323.90 billion, a PE ratio of 55.67, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm’s 50-day simple moving average is $328.28 and its 200 day simple moving average is $283.20. 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 announced 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRM shares. UBS Group increased their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. Finally, Wedbush reissued an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $378.86.

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after buying an additional 314,530 shares during the period. Legal & General Group Plc boosted its position in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after acquiring an additional 57,825 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.