Salesforce, Inc. (NYSE:CRM) COO Sells $277,676.64 in Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 969 shares of Salesforce stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total transaction of $277,676.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00.
• On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The stock was sold at an average price of $266.22, for a total transaction of $1,526,771.70.
• On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00.

Salesforce Stock Performance

Shares of Salesforce stock opened at $290.46 on Monday. The stock has a market cap of $281.46 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 2.61 and a beta of 1.30. The firm’s 50-day moving average is $269.73 and its 200 day moving average is $262.79. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last announced its quarterly earnings results 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. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 EPS. Sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. Citigroup lifted their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Wedbush lifted their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.51.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Advocates Investment Management lifted its stake in Salesforce by 1.4% during the 3rd quarter. Financial Advocates Investment Management now owns 8,968 shares of the CRM provider’s stock valued at $2,455,000 after acquiring an additional 120 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its stake in Salesforce by 60.2% during the 3rd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,601 shares of the CRM provider’s stock valued at $1,259,000 after acquiring an additional 1,729 shares during the period. Oak Harvest Investment Services lifted its stake in Salesforce by 57.2% during the 3rd quarter. Oak Harvest Investment Services now owns 9,491 shares of the CRM provider’s stock valued at $2,598,000 after acquiring an additional 3,453 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its stake in Salesforce by 44.8% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 39,743 shares of the CRM provider’s stock valued at $10,878,000 after acquiring an additional 12,294 shares during the period. Finally, JFS Wealth Advisors LLC lifted its stake in Salesforce by 27.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 512 shares of the CRM provider’s stock valued at $140,000 after acquiring an additional 110 shares during the period. 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.