Salesforce, Inc. (NYSE:CRM - Get Free Report) CAO Sundeep G. Reddy sold 1,256 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $318,157.36. Following the sale, the chief accounting officer now owns 12,826 shares in the company, valued at approximately $3,248,954.06. The trade was a 8.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Salesforce Trading Down 1.2 %
Shares of CRM opened at $246.93 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a 50 day simple moving average of $282.78 and a two-hundred day simple moving average of $309.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $237.30 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.
Salesforce Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.
Analyst Ratings Changes
Several analysts have commented on CRM shares. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group dropped their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Oppenheimer reduced their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Citigroup restated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $360.32.
View Our Latest Stock Report on Salesforce
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC increased its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter valued at $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.
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.
Further Reading
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 contact@insidertrades.com.
