Salesforce Inc. (NYSE:CRM) Insider Srinivas Tallapragada Sells 1,269 Shares

Salesforce Inc. (NYSE:CRM - Get Free Report) insider Srinivas Tallapragada sold 1,269 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $332,922.15. Following the transaction, the insider now directly owns 42,678 shares of the company's stock, valued at $11,196,573.30. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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

Salesforce Price Performance

Shares of Salesforce stock traded up $1.49 during trading on Friday, reaching $272.23. The company's stock had a trading volume of 6,291,211 shares, compared to its average volume of 7,182,110. The business has a 50 day moving average price of $269.86 and a 200-day moving average price of $295.19. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. The company has a market capitalization of $260.25 billion, a P/E ratio of 42.59, a price-to-earnings-growth ratio of 2.43 and a beta of 1.38. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

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

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders 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 dividend yield of 0.61%. Salesforce's payout ratio is 25.98%.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Salesforce during the fourth quarter worth $3,599,867,000. Nuveen LLC purchased a new stake in shares of Salesforce in the 1st quarter worth about $2,039,196,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock valued at $1,422,979,000 after acquiring an additional 3,841,521 shares during the last quarter. GAMMA Investing LLC increased its holdings in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock valued at $1,020,194,000 after acquiring an additional 3,789,147 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Salesforce during the fourth quarter worth about $1,173,564,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Northland Securities decreased their price target on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Sanford C. Bernstein upped their price objective on Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research report on Thursday, May 29th. Barclays cut their target price on Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Finally, Citigroup lowered their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $349.08.

Salesforce Company Profile

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.