Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 4,096 Shares

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 4,096 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $1,118,822.40. Following the sale, the chief financial officer now directly owns 49,290 shares in the company, valued at $13,463,563.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Salesforce Stock Down 1.1 %

NYSE CRM opened at $273.09 on Friday. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $264.90 billion, a PE ratio of 65.02, a P/E/G ratio of 2.13 and a beta of 1.28. The stock’s 50 day moving average is $296.28 and its 200 day moving average is $263.44.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRM shares. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 target price (up from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Oppenheimer raised their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Finally, Truist Financial reiterated a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Institutional Investors Weigh In On Salesforce

A number of hedge funds have recently made changes to their positions in CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce during the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce during the fourth quarter valued at $31,000. Pacifica Partners Inc. grew its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Finally, Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter worth about $33,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.