Salesforce, Inc. (NYSE:CRM) COO Brian Millham Sells 969 Shares of Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 969 shares of Salesforce stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Brian Millham also recently made the following trade(s):

• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00.
• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The stock was sold at an average price of $266.22, for a total transaction of $1,526,771.70.
• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00.

Salesforce Stock Up 1.3 %

Shares of NYSE CRM opened at $290.46 on Friday. The firm has a fifty day moving average of $269.73 and a 200-day moving average of $263.32. The stock has a market capitalization of $281.46 billion, a PE ratio of 52.24, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 earnings per share. On average, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently bought and sold shares of the business. Ruedi Wealth Management Inc. boosted its position in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new position in Salesforce in the 1st quarter worth approximately $33,000. Clear Investment Research LLC lifted its stake in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Finally, Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America reaffirmed a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research note on Friday, September 6th. Truist Financial reissued a “buy” rating and issued a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $312.51.

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.