Salesforce, Inc. (NYSE:CRM - Get Free Report) Director G Mason Morfit sold 15,353 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $340.55, for a total value of $5,228,464.15. Following the transaction, the director now directly owns 2,898,509 shares in the company, valued at $987,087,239.95. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
G Mason Morfit also recently made the following trade(s):
- On Wednesday, December 18th, G Mason Morfit sold 722,300 shares of Salesforce stock. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00.
Salesforce Stock Up 2.2 %
Shares of NYSE CRM opened at $343.65 on Friday. The stock has a 50-day moving average price of $323.14 and a two-hundred day moving average price of $279.01. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $328.87 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 3.21 and a beta of 1.30.
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Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. As a group, analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.
Salesforce Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce's dividend payout ratio is currently 26.32%.
Analysts Set New Price Targets
A number of brokerages have recently commented on CRM. Robert W. Baird lifted their price objective on shares of Salesforce from $340.00 to $430.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Bank of America raised their price objective on Salesforce from $390.00 to $440.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Wedbush reissued an "outperform" rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday. Finally, Jefferies Financial Group raised their price target on Salesforce from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $378.86.
Get Our Latest Stock Report on Salesforce
Hedge Funds Weigh In On Salesforce
Large investors have recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter valued at approximately $27,000. Clear Investment Research LLC increased its position in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock valued at $28,000 after acquiring an additional 98 shares during the period. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter worth $33,000. Finally, Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after purchasing an additional 90 shares during the last quarter. 80.43% of the stock is currently 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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