Salesforce, Inc. (NYSE:CRM - Get Free Report) insider R David Schmaier sold 3,910 shares of Salesforce stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,074,350.70. Following the completion of the sale, the insider now directly owns 19,463 shares of the company's stock, valued at approximately $5,347,848.51. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Salesforce Price Performance
Shares of Salesforce stock opened at $276.33 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business's 50 day simple moving average is $298.10 and its two-hundred day simple moving average is $260.89. The stock has a market capitalization of $268.04 billion, a P/E ratio of 65.79, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71.
Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. Analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.
Salesforce Dividend Announcement
Trump just won 2024
From Porter & Company | Ad
President Trump signed an executive order that ensures he’ll be remembered as one of America’s greatest Presidents.
It was an Executive Order that received almost no media attention…
For the full story, click here.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce's dividend payout ratio (DPR) is currently 9.52%.
Hedge Funds Weigh In On Salesforce
A number of large investors have recently bought and sold shares of CRM. Vanguard Group Inc. increased its stake in shares of Salesforce by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 83,626,413 shares of the CRM provider's stock valued at $22,005,454,000 after buying an additional 1,240,821 shares during the period. State Street Corp increased its stake in shares of Salesforce by 0.9% during the first quarter. State Street Corp now owns 45,509,345 shares of the CRM provider's stock valued at $9,091,832,000 after buying an additional 391,648 shares during the period. Capital World Investors increased its stake in shares of Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider's stock valued at $5,147,402,000 after buying an additional 457,463 shares during the period. Morgan Stanley increased its stake in shares of Salesforce by 0.8% during the fourth quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider's stock valued at $2,519,719,000 after buying an additional 149,012 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Salesforce by 5.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider's stock valued at $3,926,323,000 after buying an additional 752,566 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CRM has been the subject of several recent research reports. Argus lifted their price objective on Salesforce from $290.00 to $354.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Canaccord Genuity Group reissued a "buy" rating and issued a $350.00 price objective on shares of Salesforce in a report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on Salesforce from $260.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. StockNews.com lowered Salesforce from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 19th. Finally, KeyCorp began coverage on Salesforce in a report on Thursday, March 21st. They set a "sector weight" rating for the company. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $307.87.
Check Out Our Latest Analysis on Salesforce
About Salesforce
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
