Insider Buying: Salesforce, Inc. (NYSE:CRM) Director Purchases 1,695 Shares of Stock

Salesforce, Inc. (NYSE:CRM) Director Robin L. Washington acquired 1,695 shares of the stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Salesforce Stock Down 1.8 %

Shares of NYSE CRM opened at $292.60 on Tuesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock’s fifty day simple moving average is $328.10 and its two-hundred day simple moving average is $308.16. The stock has a market capitalization of $280.02 billion, a PE ratio of 48.13, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 EPS. As a group, analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 25.16%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Nvest Financial LLC increased its position in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD grew its stake in Salesforce by 0.3% during the 4th 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 increased its position in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC raised its stake in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC boosted its holdings in Salesforce by 1.0% in the fourth 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 in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. BMO Capital Markets lowered their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Bank of America dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.