Brian Millham Sells 16,487 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) COO Brian Millham sold 16,487 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $340.68, for a total transaction of $5,616,791.16. Following the completion of the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $566,210.16. This represents a 90.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, November 22nd, Brian Millham sold 14,808 shares of Salesforce stock. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60.
• On Tuesday, October 29th, Brian Millham sold 60,522 shares of Salesforce stock. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00.
• On Thursday, October 24th, Brian Millham sold 969 shares of Salesforce stock. The stock was sold at an average price of $286.56, for a total value of $277,676.64.
• 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 value of $1,785,149.75.
• On Wednesday, October 2nd, Brian Millham sold 8,427 shares of Salesforce stock. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00.

Salesforce Trading Up 0.4 %

CRM stock opened at $344.43 on Wednesday. The company has a market capitalization of $329.62 billion, a PE ratio of 56.65, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s 50 day moving average price is $324.16 and its two-hundred day moving average price is $280.32.

Salesforce (NYSE:CRM) last issued its 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 during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Stifel Nicolaus raised their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Raymond James increased their price target on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Bank of America boosted their price objective on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.86.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently bought and sold shares of the stock. Veritas Asset Management LLP bought a new position in shares of Salesforce in the third quarter worth approximately $733,805,000. Massachusetts Financial Services Co. MA grew 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 worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the last quarter. KBC Group NV increased its position 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 acquiring an additional 1,032,068 shares during the period. International Assets Investment Management LLC raised its stake in shares of Salesforce by 23,664.2% during 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 acquiring an additional 998,628 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its holdings in shares of Salesforce by 51.0% during 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. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.