Amy E. Weaver Sells 6,221 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Salesforce Stock Up 0.9 %

NYSE:CRM opened at $347.41 on Thursday. The company has a market cap of $332.47 billion, a price-to-earnings ratio of 57.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $338.69 and a 200-day simple moving average of $299.31.

Salesforce (NYSE:CRM) last announced 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%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. Analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.46%. Salesforce’s payout ratio is currently 26.32%.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Canaccord Genuity Group lifted their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley increased their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their target price on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently bought and sold shares of CRM. SRS Capital Advisors Inc. raised its holdings in shares of Salesforce by 426.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 5,123 shares of the CRM provider’s stock valued at $1,713,000 after acquiring an additional 4,149 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Salesforce during the 4th quarter valued at about $35,000. Bailard Inc. raised its holdings in shares of Salesforce by 0.3% in the 4th quarter. Bailard Inc. now owns 20,124 shares of the CRM provider’s stock valued at $6,728,000 after purchasing an additional 64 shares in the last quarter. Norden Group LLC lifted its position in shares of Salesforce by 5.5% in the 4th quarter. Norden Group LLC now owns 8,231 shares of the CRM provider’s stock worth $2,752,000 after purchasing an additional 431 shares during the period. Finally, IFG Advisors LLC boosted its stake in shares of Salesforce by 21.4% during the fourth quarter. IFG Advisors LLC now owns 1,700 shares of the CRM provider’s stock valued at $568,000 after purchasing an additional 300 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

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.