R David Schmaier Sells 3,910 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider R David Schmaier sold 3,910 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the completion of the transaction, the insider now owns 19,463 shares in the company, valued at $5,347,848.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Salesforce Trading Down 1.6 %

CRM opened at $271.85 on Friday. The stock has a market capitalization of $263.69 billion, a P/E ratio of 64.73, a P/E/G ratio of 2.13 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The firm’s fifty day simple moving average is $297.70 and its 200 day simple moving average is $260.97. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly 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. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRM shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. UBS Group lifted their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Wedbush lifted their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 target price on shares of Salesforce in a report on Monday. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $307.87.

Institutional Investors Weigh In On Salesforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Graypoint LLC lifted its position in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after buying an additional 36 shares in the last quarter. Chase Investment Counsel Corp raised its holdings in shares of Salesforce by 0.3% in the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares during the period. Opes Wealth Management LLC raised its holdings in shares of Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the period. Finally, Prentice Wealth Management LLC raised its holdings in shares of Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the period. 80.43% of the stock is owned by 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.