Miguel Milano Sells 705 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 705 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the transaction, the insider now owns 9,323 shares of the company’s stock, valued at $2,605,219.12. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Miguel Milano also recently made the following trade(s):

• On Monday, February 24th, Miguel Milano sold 458 shares of Salesforce stock. The shares were sold at an average price of $307.97, for a total value of $141,050.26.

Salesforce Price Performance

Shares of NYSE CRM opened at $273.05 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market cap of $262.51 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 2.58 and a beta of 1.42. 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 firm’s 50-day simple moving average is $268.46 and its 200 day simple moving average is $306.58.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Analyst Ratings Changes

A number of research firms recently weighed in on CRM. DA Davidson restated an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a report on Monday, April 21st. Oppenheimer decreased their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. UBS Group set a $350.00 price objective on Salesforce in a report on Thursday. Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Finally, Mizuho decreased their price objective on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.59.

Hedge Funds Weigh In On Salesforce

Large investors have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC lifted its position in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Athena Investment Management bought a new position in Salesforce in the 4th quarter valued at about $236,000. Highland Capital Management LLC bought a new position in Salesforce in the 4th quarter valued at about $4,321,000. Jag Capital Management LLC increased its stake in Salesforce by 2,507.9% in the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock valued at $7,926,000 after buying an additional 22,797 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Salesforce in the 4th quarter valued at about $2,861,000. Institutional investors own 80.43% of the company’s stock.

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.