Brian Millham Sells 979 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM - Get Free Report) CEO Brian Millham sold 979 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $248,333.14. Following the sale, the chief executive officer now directly owns 6,487 shares of the company's stock, valued at approximately $1,645,492.42. This trade represents a 13.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Brian Millham also recently made the following trade(s):

• On Monday, March 24th, Brian Millham sold 3,937 shares of Salesforce stock. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46.

Salesforce Stock Up 5.5 %

Shares of NYSE:CRM traded up $13.81 during trading on Thursday, reaching $264.29. 7,846,607 shares of the stock were exchanged, compared to its average volume of 6,797,020. The stock has a fifty day moving average of $276.19 and a two-hundred day moving average of $308.58. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $253.98 billion, a price-to-earnings ratio of 43.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.64%. Salesforce's payout ratio is presently 26.10%.

Analysts Set New Price Targets

CRM has been the subject of several recent analyst reports. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Morgan Stanley cut their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company lowered their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $355.19.

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Salesforce during the fourth quarter valued at about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after buying an additional 3,841,521 shares during the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 3,789,147 shares during the period. Raymond James Financial Inc. bought a new position in Salesforce during the fourth quarter worth about $1,173,564,000. Finally, Invesco Ltd. raised its position in shares of Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.