Salesforce, Inc. (NYSE:CRM – Get Free Report) COO Brian Millham sold 1,745 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $209.50, for a total value of $365,577.50. Following the transaction, the chief operating officer now owns 3,342 shares of the company’s stock, valued at approximately $700,149. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Brian Millham also recently made the following trade(s):
- On Monday, September 25th, Brian Millham sold 1,679 shares of Salesforce stock. The shares were sold at an average price of $205.22, for a total value of $344,564.38.
- On Tuesday, August 22nd, Brian Millham sold 1,746 shares of Salesforce stock. The stock was sold at an average price of $209.85, for a total value of $366,398.10.
- On Monday, July 24th, Brian Millham sold 330 shares of Salesforce stock. The shares were sold at an average price of $225.05, for a total transaction of $74,266.50.
Salesforce Trading Down 0.0 %
CRM opened at $206.34 on Tuesday. Salesforce, Inc. has a 12 month low of $126.34 and a 12 month high of $238.22. The stock has a fifty day moving average price of $216.57 and a 200-day moving average price of $207.83. The firm has a market cap of $200.77 billion, a price-to-earnings ratio of 129.77, a PEG ratio of 1.56 and a beta of 1.19. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.
Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Salesforce
Several institutional investors and hedge funds have recently bought and sold shares of CRM. CGC Financial Services LLC acquired a new stake in shares of Salesforce in the 2nd quarter worth $47,000. Farther Finance Advisors LLC grew its stake in shares of Salesforce by 9.0% during the second quarter. Farther Finance Advisors LLC now owns 3,905 shares of the CRM provider’s stock worth $825,000 after acquiring an additional 324 shares during the last quarter. Prosperity Financial Group Inc. purchased a new position in shares of Salesforce in the 2nd quarter valued at approximately $265,000. Davidson Kempner Capital Management LP acquired a new stake in Salesforce in the 2nd quarter worth approximately $36,125,000. Finally, Jag Capital Management LLC grew its position in Salesforce by 32.1% during the 2nd quarter. Jag Capital Management LLC now owns 87,700 shares of the CRM provider’s stock worth $18,528,000 after purchasing an additional 21,288 shares during the last quarter. 77.52% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on CRM. Evercore ISI increased their price objective on shares of Salesforce from $240.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Truist Financial reissued a “buy” rating and set a $275.00 price objective on shares of Salesforce in a research note on Wednesday, September 13th. TD Cowen raised their price objective on Salesforce from $210.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, August 31st. Northland Securities increased their price target on Salesforce from $210.00 to $220.00 and gave the company a “market perform” rating in a report on Friday, September 1st. Finally, Robert W. Baird lifted their price objective on shares of Salesforce from $210.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.28.
Get Our Latest Analysis on CRM
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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.
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ABMN Staff
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