Salesforce Inc. (NYSE:CRM - Get Free Report) Director G Mason Morfit bought 96,000 shares of Salesforce stock in a transaction dated Friday, December 5th. The stock was purchased at an average price of $260.58 per share, with a total value of $25,015,680.00. Following the completion of the purchase, the director owned 2,994,509 shares in the company, valued at $780,309,155.22. This trade represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Salesforce Stock Down 0.5%
CRM stock opened at $259.29 on Tuesday. The stock's 50 day simple moving average is $243.55 and its 200 day simple moving average is $252.27. The company has a market cap of $242.96 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 2.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98. Salesforce Inc. has a fifty-two week low of $221.96 and a fifty-two week high of $367.09.
Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, beating analysts' consensus estimates of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The firm had revenue of $10.26 billion during the quarter, compared to analysts' expectations of $10.27 billion. During the same quarter last year, the firm posted $2.41 earnings per share. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be issued a dividend of $0.416 per share. The ex-dividend date is Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.6%. Salesforce's dividend payout ratio is presently 22.16%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CRM. Evercore ISI reduced their price objective on shares of Salesforce from $360.00 to $340.00 and set an "outperform" rating for the company in a report on Thursday. Citizens Jmp reiterated a "market outperform" rating and set a $430.00 price target on shares of Salesforce in a research note on Tuesday, December 2nd. JMP Securities reissued a "market outperform" rating and set a $430.00 price objective on shares of Salesforce in a report on Friday, October 17th. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research note on Thursday. Finally, Stifel Nicolaus cut their target price on Salesforce from $325.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, October 9th. Twenty-eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $326.65.
Check Out Our Latest Research Report on CRM
Hedge Funds Weigh In On Salesforce
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Salesforce by 0.8% in the third quarter. Vanguard Group Inc. now owns 89,572,253 shares of the CRM provider's stock worth $21,228,624,000 after purchasing an additional 748,772 shares during the last quarter. State Street Corp raised its stake in shares of Salesforce by 0.3% during the 3rd quarter. State Street Corp now owns 49,420,657 shares of the CRM provider's stock worth $11,732,966,000 after purchasing an additional 159,739 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Salesforce by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 20,873,900 shares of the CRM provider's stock worth $5,669,224,000 after buying an additional 114,504 shares during the last quarter. Capital International Investors grew its position in Salesforce by 9.4% during the third quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider's stock valued at $4,753,519,000 after buying an additional 1,729,440 shares during the period. Finally, Capital World Investors increased its holdings in Salesforce by 159.0% during the third quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider's stock worth $4,106,255,000 after buying an additional 10,636,161 shares during the last quarter. 80.43% of the stock is owned by institutional investors.
Salesforce Company Profile
(
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.
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