Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 924 Shares

Salesforce, Inc. (NYSE:CRMGet Rating) CFO Amy E. Weaver sold 924 shares of the firm’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $157,477.32. Following the completion of the sale, the chief financial officer now owns 29,989 shares of the company’s stock, valued at $5,111,025.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NYSE:CRM traded up $5.60 during mid-day trading on Thursday, hitting $173.05. 7,218,586 shares of the stock traded hands, compared to its average volume of 7,913,803. The business’s 50-day moving average price is $172.00 and its 200 day moving average price is $205.29. The company has a market cap of $172.18 billion, a PE ratio of 167.55, a price-to-earnings-growth ratio of 4.57 and a beta of 1.16. Salesforce, Inc. has a 12-month low of $154.55 and a 12-month high of $311.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

Salesforce (NYSE:CRMGet Rating) last issued its quarterly earnings data on Tuesday, May 31st. The CRM provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. Salesforce’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share. Analysts anticipate that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. New World Advisors LLC purchased a new position in Salesforce in the 3rd quarter worth approximately $481,000. MFA Wealth Advisors LLC purchased a new position in Salesforce in the 3rd quarter worth approximately $84,000. Chartwell Investment Partners LLC grew its stake in Salesforce by 1.7% in the 3rd quarter. Chartwell Investment Partners LLC now owns 19,563 shares of the CRM provider’s stock worth $5,306,000 after buying an additional 323 shares in the last quarter. Psagot Value Holdings Ltd. grew its stake in Salesforce by 2.0% in the 3rd quarter. Psagot Value Holdings Ltd. now owns 52,237 shares of the CRM provider’s stock worth $14,168,000 after buying an additional 1,018 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Salesforce by 1,305.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 59,080 shares of the CRM provider’s stock worth $1,608,000 after buying an additional 54,876 shares in the last quarter. 77.75% of the stock is owned by institutional investors.

A number of equities research analysts have commented on the stock. Roth Capital upgraded shares of Salesforce from a “neutral” rating to a “buy” rating and set a $242.00 price target for the company in a report on Wednesday, May 18th. Cowen reduced their price objective on shares of Salesforce from $285.00 to $225.00 in a report on Monday, May 23rd. Oppenheimer reiterated a “buy” rating and set a $205.00 price objective on shares of Salesforce in a report on Friday, June 17th. Citigroup lifted their price objective on shares of Salesforce to $192.00 in a report on Friday, June 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of Salesforce from $330.00 to $260.00 in a report on Monday, May 23rd. Four analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $272.50.

Salesforce Company Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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