Salesforce Inc. (NYSE:CRM) CAO Sundeep G. Reddy Sells 261 Shares

Salesforce Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 261 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $68,473.35. Following the transaction, the chief accounting officer now directly owns 12,024 shares in the company, valued at $3,154,496.40. The trade was a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Salesforce Stock Up 3.0%

Shares of NYSE:CRM opened at $271.43 on Wednesday. The company has a market capitalization of $259.49 billion, a price-to-earnings ratio of 42.48, a price-to-earnings-growth ratio of 2.39 and a beta of 1.38. The company has a 50 day moving average of $269.02 and a two-hundred day moving average of $295.94. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce’s payout ratio is 25.98%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup cut their price target on Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. UBS Group set a $404.00 target price on Salesforce and gave the company an “overweight” rating in a research note on Wednesday, June 18th. Northland Securities reduced their target price on Salesforce from $423.00 to $396.00 and set an “outperform” rating on the stock in a research report on Thursday, May 29th. Finally, Erste Group Bank cut Salesforce from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $349.08.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Capital Advisors Ltd. LLC raised its position in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares in the last quarter. Mainstream Capital Management LLC increased its stake in shares of Salesforce by 0.5% in the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock worth $2,143,000 after buying an additional 33 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its holdings in Salesforce by 0.5% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock valued at $2,369,000 after acquiring an additional 35 shares in the last quarter. Wulff Hansen & CO. boosted its stake in Salesforce by 3.5% during the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider’s stock valued at $346,000 after acquiring an additional 35 shares during the last quarter. Finally, WR Wealth Planners LLC grew its holdings in Salesforce by 9.0% during the 4th quarter. WR Wealth Planners LLC now owns 449 shares of the CRM provider’s stock worth $150,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds 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.