Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells $2,089,882.74 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now directly 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 filing with the SEC, which is accessible through the SEC website.

Salesforce Stock Down 5.0 %

Shares of NYSE:CRM opened at $330.52 on Friday. The business’s 50 day moving average is $339.04 and its 200 day moving average is $299.65. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market cap of $316.31 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 3.09 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 earnings per share. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Truist Financial reaffirmed a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Robert W. Baird upped their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Barclays raised their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, UBS Group increased their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC raised its stake in shares of 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 purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter worth about $30,000. Asset Planning Inc bought a new position in Salesforce during the fourth quarter valued at about $31,000. Finally, Collier Financial purchased a new stake in Salesforce during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.