G Mason Morfit Sells 15,353 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) Director G Mason Morfit sold 15,353 shares of Salesforce stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the sale, the director now directly owns 2,898,509 shares in the company, valued at $987,087,239.95. The trade was a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

G Mason Morfit also recently made the following trade(s):

• On Wednesday, December 18th, G Mason Morfit sold 722,300 shares of Salesforce stock. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00.

Salesforce Stock Performance

Shares of NYSE CRM opened at $343.65 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $328.87 billion, a price-to-earnings ratio of 56.52, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The firm has a 50 day moving average of $323.14 and a 200 day moving average of $279.31.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new position in shares of Salesforce during the 2nd quarter valued at $41,000. JB Capital LLC boosted its stake in shares of Salesforce by 18.8% in the second quarter. JB Capital LLC now owns 2,531 shares of the CRM provider’s stock worth $651,000 after acquiring an additional 400 shares during the period. Diversified LLC grew its position in shares of Salesforce by 33.7% during the second quarter. Diversified LLC now owns 904 shares of the CRM provider’s stock worth $232,000 after purchasing an additional 228 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Salesforce during the second quarter worth about $88,000. Finally, McAdam LLC raised its stake in Salesforce by 6.0% during the 2nd quarter. McAdam LLC now owns 792 shares of the CRM provider’s stock valued at $204,000 after purchasing an additional 45 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRM shares. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. TD Cowen boosted their target price on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Macquarie reiterated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $378.86.

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.