Amy E. Weaver Sells 942 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Salesforce Trading Down 0.1 %

NYSE CRM opened at $301.18 on Friday. Salesforce, Inc. has a one year low of $187.31 and a one year high of $318.71. The company has a 50-day simple moving average of $294.19 and a 200-day simple moving average of $252.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $292.14 billion, a PE ratio of 71.71, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Institutional Trading of Salesforce

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Graypoint LLC increased its position in shares of Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp grew its position in Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its position in Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its position in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Needham & Company LLC boosted their price target on shares of Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Wolfe Research raised shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price for the company in a report on Monday, December 18th. Argus upped their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. KeyCorp assumed coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $304.32.

About Salesforce

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.