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

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

Salesforce Stock Performance

Shares of Salesforce stock opened at $277.88 on Friday. The stock has a market cap of $267.04 billion, a price-to-earnings ratio of 45.70, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s fifty day moving average is $310.49 and its 200 day moving average is $310.51. 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 Increases Dividend

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

Hedge Funds Weigh In On Salesforce

Hedge funds have recently made changes to their positions in the stock. Nvest Financial LLC raised its holdings in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD raised its stake in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC boosted its position in Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CRM shares. Canaccord Genuity Group decreased their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Morgan Stanley boosted their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target for the company. Finally, Barclays upped their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $362.74.

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.