Salesforce Director Sells Significant Shares

Salesforce, Inc. (NYSE:CRM) has recently seen a notable stock transaction by one of its directors. On December 20th, G Mason Morfit sold 15,353 shares of the company’s stock. The shares were sold at an average price of $340.55, resulting in a total transaction value of $5,228,464.15. Following this sale, Morfit now retains ownership of 2,898,509 shares, which amounts to approximately $987,087,239.95. This recent sale reflects a slight decrease in ownership of 0.53%.

The details of this transaction were officially reported in a filing with the Securities and Exchange Commission (SEC).

Additional Transactions by Morfit

In addition to the recent sale, G Mason Morfit executed another significant transaction on December 18th, where he sold a much larger quantity of shares—722,300 to be exact. These shares were sold at an average price of $346.11, leading to an impressive total sale of $249,995,253.00.

Salesforce Stock Performance

After the recent trades, Salesforce's stock opened at $343.65. The company has demonstrated notable performance with a 50-day moving average price of $323.14 and a two-hundred-day average of $279.01. Over the past year, the stock has seen a low of $212.00 and a high of $369.00. Salesforce currently boasts a market capitalization of $328.87 billion, alongside a price-to-earnings ratio of 56.52 and a PEG ratio of 3.21.

The company also carries a current ratio and a quick ratio of 1.11 and maintains a debt-to-equity ratio of 0.14.

Financial Highlights and Dividends

Salesforce recently reported its quarterly earnings data, revealing earnings per share (EPS) of $2.41, which fell slightly short of the consensus estimate of $2.44 by $0.03. The company generated revenues of $9.44 billion, surpassing the anticipated $9.35 billion. Salesforce's net margin stood at 15.96% with a return on equity of 12.34%, reflecting an 8.3% year-over-year growth in revenue.

The company announced a quarterly dividend that is set to be paid on January 9th. Shareholders who held shares as of December 18th will receive a dividend payment of $0.40 per share. This dividend amounts to an annualized total of $1.60, yielding 0.47%. The current payout ratio stands at 26.32%.

Analyst Ratings and Price Targets

Several financial analysts have recently updated their price forecasts for Salesforce's stock. Robert W. Baird raised their target from $340.00 to $430.00 with an “outperform” rating. Similarly, Barclays and Bank of America also adjusted their price targets to $425.00 and $440.00, respectively. Overall, the consensus rating for Salesforce's stock is noted as “Moderate Buy,” with a consensus price target of $378.86.

Investor Activity and Institutional Ownership

In terms of institutional activity, many large investors have been engaged in buying and selling the company's shares. For example, Infrastructure Capital Advisors LLC initiated a new position valued at approximately $27,000. There have also been significant increases in holdings by Clear Investment Research LLC and Stephens Consulting LLC, among others.

Company Overview

Salesforce, Inc. specializes in providing Customer Relationship Management (CRM) technology that connects businesses with their customers globally. Their offerings encompass various services aimed at enhancing data management, lead monitoring, analytics, and personalized customer support.

Salesforce, Stock, Transaction