Salesforce Inc. (NYSE:CRM) Insider Sells $106,251.75 in Stock

Salesforce Inc. (NYSE:CRM - Get Free Report) insider Miguel Milano sold 405 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider now owns 9,933 shares in the company, valued at $2,605,922.55. The trade was a 3.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Miguel Milano also recently made the following trade(s):

• On Friday, May 23rd, Miguel Milano sold 705 shares of Salesforce stock. The shares were sold at an average price of $279.44, for a total value of $197,005.20.

Salesforce Trading Up 3.0%

CRM traded up $8.02 during trading on Tuesday, hitting $271.43. The company's stock 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 quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock's fifty day moving average price is $268.69 and its 200-day moving average price is $296.11. The firm has a market capitalization of $259.49 billion, a P/E ratio of 33.17, a PEG ratio of 2.39 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last issued its 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 return on equity of 12.94% and a net margin of 16.08%. The company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. Salesforce's revenue for the quarter was up 7.6% on a year-over-year basis. 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. Investors of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.61%. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRM. BMO Capital Markets dropped their price objective on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 27th. UBS Group set a $404.00 price objective on Salesforce and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. DA Davidson reiterated an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Loop Capital dropped their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Stephens dropped 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. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $349.08.

Institutional Investors Weigh In On Salesforce

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Salesforce in the 4th quarter valued at $3,599,867,000. Nuveen LLC bought a new position in Salesforce in the 1st quarter valued at $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 purchasing an additional 3,841,521 shares during the period. GAMMA Investing LLC grew its stake in Salesforce by 30,456.9% in 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 purchasing an additional 3,789,147 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Salesforce in the 4th quarter valued at $1,173,564,000. Institutional investors own 80.43% of the company's stock.

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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