Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 6,221 Shares

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Salesforce Stock Up 1.5 %

Shares of CRM stock opened at $324.77 on Friday. 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 $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The stock has a 50 day moving average of $337.31 and a 200-day moving average of $291.56. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the firm earned $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CRM. Veritas Asset Management LLP acquired a new position in shares of Salesforce in the third quarter valued at $733,805,000. KBC Group NV raised its stake in shares of Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Salesforce by 23,664.2% in the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after purchasing an additional 998,628 shares in the last quarter. Farallon Capital Management LLC raised its stake in shares of Salesforce by 51.0% in the second quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock valued at $757,632,000 after purchasing an additional 994,670 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Salesforce by 25.1% in the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after acquiring an additional 877,495 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. BMO Capital Markets lifted their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Scotiabank lifted their target price on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have assigned 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 currently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.