Amy E. Weaver Sells 6,221 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Salesforce Trading Down 1.8 %

Shares of CRM opened at $318.76 on Friday. The business’s 50-day moving average price is $334.23 and its 200 day moving average price is $304.76. The stock has a market capitalization of $305.06 billion, a P/E ratio of 52.43, a P/E/G ratio of 2.64 and a beta of 1.31. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the firm earned $1.62 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

Several brokerages have weighed in on CRM. Robert W. Baird increased their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Citigroup increased their target price on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Guggenheim lowered Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research report on Monday, January 6th. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $376.84.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after buying an additional 175,035 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after buying an additional 177,321 shares in the last quarter. Northern Trust Corp grew its stake in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after buying an additional 1,736,667 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $3,599,867,000. 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.