Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells $246,480.39 in Stock

Salesforce, Inc. (NYSE:CRM) insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. This represents a 13.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Salesforce Stock Down 3.8 %

Shares of NYSE CRM opened at $330.01 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $315.49 billion, a PE ratio of 57.39, a P/E/G ratio of 3.07 and a beta of 1.29. The company’s fifty day simple moving average is $299.57 and its 200 day simple moving average is $269.87. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRM. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and raised their target price for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Citigroup increased their target price on shares of Salesforce from $290.00 to $368.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird increased their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $341.89.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently modified their holdings of the company. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter valued at about $27,000. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter valued at about $33,000. 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.