Sundeep G. Reddy Sells 1,525 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM - Get Free Report) CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $386,831.50. Following the sale, the chief accounting officer now directly owns 12,211 shares of the company's stock, valued at approximately $3,097,442.26. The trade was a 11.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Salesforce Stock Down 0.8 %

Shares of CRM stock traded down $2.24 on Monday, reaching $265.61. 4,968,641 shares of the company were exchanged, compared to its average volume of 6,816,741. The company has a 50-day moving average of $273.75 and a 200-day moving average of $308.54. The company has a market cap of $255.25 billion, a price-to-earnings ratio of 43.69, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.63%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Analyst Ratings Changes

Several research firms recently commented on CRM. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Stifel Nicolaus cut their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Citigroup restated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $351.37.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares during the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Northern Trust Corp lifted its stake in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares in the last quarter. Norges Bank purchased a new position in Salesforce during the 4th quarter worth $3,599,867,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Salesforce by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after acquiring an additional 1,683,233 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

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.