Salesforce, Inc. (NYSE:CRM) CEO Brian Millham Sells 979 Shares

Salesforce, Inc. (NYSE:CRM) CEO Brian Millham sold 979 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $248,333.14. Following the sale, the chief executive officer now owns 6,487 shares in the company, valued at approximately $1,645,492.42. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 24th, Brian Millham sold 3,937 shares of Salesforce stock. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46.

Salesforce Stock Performance

Shares of CRM stock opened at $267.87 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $257.42 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s 50-day moving average is $273.75 and its 200 day moving average is $308.27.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new position in Salesforce during the fourth quarter valued at approximately $31,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRM. Jefferies Financial Group dropped their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Canaccord Genuity Group dropped their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Morgan Stanley lowered their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $351.37.

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.