Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells $514,686.90 in Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares in the company, valued at $8,416,644.60. This represents a 5.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Salesforce Trading Down 2.8 %

CRM opened at $270.04 on Friday. The stock has a market capitalization of $259.51 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. 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, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm’s fifty day simple moving average is $309.39 and its 200 day simple moving average is $311.13.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Analyst Ratings Changes

A number of equities analysts have commented on CRM shares. Truist Financial restated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Guggenheim reiterated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research 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 research note on Wednesday, December 4th. Finally, KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $362.74.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter valued at $27,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC lifted its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth about $30,000. 80.43% of the stock is currently owned by 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.