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 the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. This represents a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Salesforce Price Performance

NYSE:CRM opened at $341.72 on Friday. The company has a market cap of $327.03 billion, a P/E ratio of 56.20, a P/E/G ratio of 3.21 and a beta of 1.30. The firm’s fifty day moving average price is $327.37 and its two-hundred day moving average price is $281.90. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. 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 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). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. Equities analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. DA Davidson lifted their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group increased their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley lifted their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.86.

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Veritas Asset Management LLP bought a new stake in shares of Salesforce in the third quarter valued at approximately $733,805,000. Massachusetts Financial Services Co. MA raised its holdings in Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after acquiring an additional 1,922,674 shares in the last quarter. KBC Group NV lifted its position in shares of Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after purchasing an additional 998,628 shares in the last quarter. Finally, Farallon Capital Management LLC increased its position 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 worth $757,632,000 after purchasing an additional 994,670 shares during the period. Institutional investors and hedge funds 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.