Insider Selling: Salesforce, Inc. (NYSE:CRM) Director Sells 15,353 Shares of Stock

On December 20th, 2024, G Mason Morfit, a Director at Salesforce, Inc. (NYSE:CRM), sold 15,353 shares of the company's stock. The transaction occurred at an average price of $340.55 per share, culminating in a total sale price of approximately $5,228,464.15. After this transaction, Morfit holds 2,898,509 shares of Salesforce, valued at around $987,087,239.95. This sale marks a 0.53% decrease in Morfit's ownership of the stock. The details of this transaction were filed with the Securities and Exchange Commission.

Additionally, G Mason Morfit executed another significant trade just a couple of days prior, on December 18th, where he sold 722,300 shares for an average price of $346.11, resulting in a total value of $249,995,253.00.

Salesforce Stock Overview

The stock opened at $343.65 on the day of the sale. Salesforce has a current debt-to-equity ratio of 0.14 and a current ratio of 1.11, indicating a solid financial position. Over the past year, the stock has fluctuated between a low of $212.00 and a high of $369.00. Its 50-day simple moving average stands at $323.14, while the 200-day simple moving average is at $279.31. The company's market capitalization is about $328.87 billion, with a price-to-earnings ratio of 56.52 and a PEG ratio of 3.21, accompanied by a beta of 1.30.

Recent Financial Performance

On December 3rd, Salesforce released its quarterly earnings report, revealing earnings per share (EPS) of $2.41, which fell short of analysts' expectations of $2.44 by $0.03. The revenue for the quarter reached $9.44 billion, surpassing the consensus estimate of $9.35 billion, reflecting an 8.3% increase compared to the same quarter the previous year. In the prior year, the firm had an EPS of $1.62. Analysts predict that Salesforce is expected to post a total EPS of 7.48 for the current fiscal year.

Dividend Information

Salesforce has also announced a quarterly dividend payment scheduled for January 9th. Shareholders who were recorded on December 18th will receive a dividend of $0.40 per share, translating to an annualized dividend of $1.60 and a dividend yield of 0.47%. The ex-dividend date coincided with the recording date.

Institutional Investor Activity

Recently, several hedge funds and institutional investors made adjustments to their positions in Salesforce. For example, Independent Solutions Wealth Management LLC increased its stake by 7.3% in the last quarter, holding now 2,140 shares worth approximately $586,000. Legacy Wealth Management LLC MS established a new position valued at $210,000, while Garden State Investment Advisory Services LLC raised its holdings by 28.0%. The overall trend shows that institutional investors collectively own about 80.43% of Salesforce's stock.

Market Analyst Opinions

Wall Street analysts have mixed but generally positive views on Salesforce. UBS Group recently increased its target price from $275.00 to $360.00 while maintaining a “neutral” rating. Other firms, such as Goldman Sachs, raised their target price significantly from $360.00 to $400.00, rating the stock as a “buy.” Comparatively, Northland Securities reissued a target price of $440.00. In summary, the consensus sees Salesforce with multiple “buy” ratings and an average target price of $378.86 from analysts.

Company Overview

Salesforce, Inc. specializes in Customer Relationship Management (CRM) technology, assisting businesses in connecting with their customers effectively. Their services range from sales management and progress tracking to predictive analytics and personalized customer support.

Salesforce, Insider, Trading