Insider Selling: Salesforce, Inc. (NYSE:CRM) COO Sells 969 Shares of Stock

25 Oct 2024, 20:39 by Jessica Moore · The Cerbat Gem

Salesforce, Inc. (NYSE:CRM – Get Free Report) COO Brian Millham sold 969 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

On Tuesday, October 22nd, Brian Millham sold 6,161 shares of Salesforce stock. The shares were sold at an average price of $289.75, for a total transaction 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.
On Monday, September 23rd, Brian Millham sold 5,735 shares of Salesforce stock. The stock was sold at an average price of $266.22, for a total transaction of $1,526,771.70.
On Thursday, August 22nd, Brian Millham sold 4,056 shares of Salesforce stock. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00.

Salesforce Price Performance

Shares of CRM traded up $3.70 during trading hours on Friday, reaching $290.46. 3,349,447 shares of the company’s stock traded hands, compared to its average volume of 6,334,725. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $269.18 and its 200-day simple moving average is $263.40. The stock has a market cap of $281.46 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRM shares. Wells Fargo & Company upped their target price on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. Robert W. Baird boosted their price objective on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $312.51.

Read Our Latest Analysis on CRM

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its stake in Salesforce by 3.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 6,763 shares of the CRM provider’s stock worth $2,037,000 after purchasing an additional 228 shares during the last quarter. Artemis Investment Management LLP grew its position in Salesforce by 0.5% during the 1st quarter. Artemis Investment Management LLP now owns 33,650 shares of the CRM provider’s stock worth $10,129,000 after acquiring an additional 152 shares during the last quarter. Register Financial Advisors LLC purchased a new position in Salesforce in the 1st quarter worth approximately $192,000. Kathmere Capital Management LLC bought a new stake in Salesforce in the first quarter valued at approximately $227,000. Finally, Norway Savings Bank boosted its stake in shares of Salesforce by 5.5% during the first quarter. Norway Savings Bank now owns 8,344 shares of the CRM provider’s stock valued at $2,513,000 after purchasing an additional 438 shares during the period. 80.43% of the stock is currently owned by institutional investors.

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