Insider Selling: Salesforce Inc. (NYSE:CRM) Insider Sells 1,269 Shares of Stock

Salesforce Inc. (NYSE:CRM - Get Free Report) insider Srinivas Tallapragada sold 1,269 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $332,922.15. Following the sale, the insider now directly owns 42,678 shares of the company's stock, valued at approximately $11,196,573.30. This trade represents a 2.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Srinivas Tallapragada also recently made the following trade(s):

• On Wednesday, May 14th, Srinivas Tallapragada sold 6,697 shares of Salesforce stock. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00.

Salesforce Stock Up 3.0%

Shares of NYSE CRM traded up $8.02 during mid-day trading on Tuesday, reaching $271.43. The company had a trading volume of 9,707,487 shares, compared to its average volume of 6,509,943. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $259.49 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.38. The stock's 50 day moving average is $268.69 and its 200-day moving average is $296.11.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the business posted $2.44 earnings per share. Salesforce's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. Salesforce's payout ratio is currently 25.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Athena Investment Management bought a new position in Salesforce during the fourth quarter worth about $236,000. Jag Capital Management LLC boosted its stake in Salesforce by 2,507.9% in the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after buying an additional 22,797 shares in the last quarter. Atlantic Union Bankshares Corp grew its position in Salesforce by 2.7% in the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after acquiring an additional 723 shares during the period. Millstone Evans Group LLC bought a new position in shares of Salesforce during the fourth quarter valued at $823,000. Finally, Heartland Bank & Trust Co boosted its stake in shares of Salesforce by 117.2% in the 1st quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock valued at $1,605,000 after purchasing an additional 3,227 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRM shares. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Stephens reduced their price objective on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. UBS Group set a $404.00 price objective on Salesforce and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company increased their price objective on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $349.08.

About Salesforce

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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