Salesforce, Inc. (NYSE:CRM) COO Sells $235,254.24 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 708 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares of the company’s stock, valued at $411,694.92. This represents a 36.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 23rd, Brian Millham sold 16,487 shares of Salesforce stock. The stock was sold at an average price of $340.68, for a total transaction of $5,616,791.16.
• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00.

Salesforce Trading Up 0.6 %

CRM stock traded up $2.13 during midday trading on Thursday, hitting $334.75. The stock had a trading volume of 4,351,873 shares, compared to its average volume of 5,399,249. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $320.36 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. The company’s 50-day moving average price is $336.50 and its 200 day moving average price is $293.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Scotiabank upped their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Custom Index Systems LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $429,000. Heck Capital Advisors LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $134,000. Austin Private Wealth LLC grew its holdings in Salesforce by 10.1% during the 4th quarter. Austin Private Wealth LLC now owns 2,947 shares of the CRM provider’s stock valued at $985,000 after purchasing an additional 271 shares in the last quarter. GFS Advisors LLC purchased a new stake in Salesforce during the 4th quarter worth $392,000. Finally, Caprock Group LLC boosted its position in Salesforce by 12.7% in the 4th quarter. Caprock Group LLC now owns 37,346 shares of the CRM provider’s stock valued at $12,501,000 after buying an additional 4,204 shares during 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.