Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy Sells 65 Shares

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 65 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $22,085.70. Following the sale, the chief accounting officer now directly owns 6,584 shares of the company’s stock, valued at approximately $2,237,111.52. This trade represents a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Salesforce Price Performance

Shares of NYSE CRM opened at $344.43 on Wednesday. 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 market cap of $329.62 billion, a P/E ratio of 56.65, a P/E/G ratio of 3.21 and a beta of 1.30. The stock has a 50 day moving average of $324.16 and a two-hundred day moving average of $280.32. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior 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, research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Ratings Changes

A number of analysts recently issued reports on CRM shares. Citigroup raised their price objective on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Northland Securities reiterated an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Morgan Stanley upped their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer reissued an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Roth Mkm restated a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $378.86.

Institutional Trading of Salesforce

Hedge funds have recently added to or reduced their stakes in the stock. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce during the third quarter worth $1,215,000. Prime Capital Investment Advisors LLC lifted its stake in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares during the period. Aljian Capital Management LLC boosted its holdings in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares in the last quarter. AIA Group Ltd increased its stake in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the period. Finally, Geode Capital Management LLC raised its holdings in 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 purchasing an additional 257,501 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

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.