Brian Millham Sells 5,801 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 5,801 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $279.10, for a total transaction of $1,619,059.10. Following the completion of the transaction, the chief operating officer now owns 4,204 shares in the company, valued at $1,173,336.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, April 1st, Brian Millham sold 24,453 shares of Salesforce stock. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24.
• On Monday, March 25th, Brian Millham sold 1,679 shares of Salesforce stock. The shares were sold at an average price of $305.46, for a total value of $512,867.34.
• On Friday, March 22nd, Brian Millham sold 14,516 shares of Salesforce stock. The shares were sold at an average price of $309.32, for a total value of $4,490,089.12.
• On Thursday, February 22nd, Brian Millham sold 14,517 shares of Salesforce stock. The stock was sold at an average price of $292.50, for a total transaction of $4,246,222.50.
• On Wednesday, January 24th, Brian Millham sold 393 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $110,040.00.

Salesforce Stock Performance

Salesforce stock traded up $2.82 during midday trading on Tuesday, hitting $276.63. 6,283,041 shares of the company’s stock were exchanged, compared to its average volume of 5,718,907. The firm’s 50 day simple moving average is $296.91 and its 200 day simple moving average is $263.28. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. 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 stock has a market cap of $268.33 billion, a price-to-earnings ratio of 65.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Equities research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Norges Bank purchased a new position in Salesforce in the fourth quarter worth $2,762,331,000. Capital International Investors increased its holdings in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after purchasing an additional 3,226,512 shares during the period. Coatue Management LLC purchased a new stake in Salesforce during the fourth quarter worth about $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Salesforce by 110.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after buying an additional 1,780,421 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRM shares. UBS Group boosted their price target on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Piper Sandler restated a “neutral” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Jefferies Financial Group upped their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Truist Financial reiterated a “buy” rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

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.