Salesforce, Inc. (NYSE:CRM) Insider Miguel Milano Sells 719 Shares

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Salesforce Price Performance

Shares of NYSE CRM traded down $2.90 during mid-day trading on Monday, hitting $339.12. 7,114,081 shares of the stock traded hands, compared to its average volume of 6,305,225. The company has a market cap of $324.20 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $294.61 and a two-hundred day simple moving average of $268.53.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the business posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in shares of Salesforce during the first quarter valued at approximately $874,748,000. Veritas Asset Management LLP bought a new position in shares of Salesforce during the third quarter valued at about $733,805,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after acquiring an additional 1,922,674 shares in the last quarter. AMF Tjanstepension AB increased its position in shares of Salesforce by 376.1% during the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after acquiring an additional 1,139,472 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after acquiring an additional 1,032,068 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRM shares. Jefferies Financial Group upped their target price on Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Loop Capital increased their price target on shares of Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Citigroup boosted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus raised their target price on shares of Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.66.

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.