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 a total of 15,353 shares of the company's stock. The shares were sold at an average price of $340.55 each, resulting in a total transaction value of approximately $5.23 million. Post-transaction, Morfit retains direct ownership of 2,898,509 shares, which are worth about $987.09 million. This sale reflects a minor reduction of 0.53% in Morfit’s stock ownership. The details of this transaction were made public through a filing with the Securities and Exchange Commission.

In addition to this recent sale, Morfit executed another significant trade just days earlier. On December 18th, he sold 722,300 shares at an average price of $346.11, amounting to approximately $250 million.

Salesforce Stock Performance

As of the latest trading day on December 20th, shares of Salesforce opened at $343.65. The company has a debt-to-equity ratio of 0.14, along with both a current and quick ratio of 1.11. Over the past year, Salesforce's stock has fluctuated, hitting a low of $212.00 and a high of $369.00. The stock’s 50-day moving average currently stands at $323.14, while the 200-day moving average is at $279.31. With a market capitalization of approximately $328.87 billion, Salesforce boasts a price-to-earnings ratio of 56.52 and a PEG ratio of 3.21, alongside a beta of 1.30.

Salesforce’s most recent quarterly earnings report was released on December 3rd, indicating earnings per share (EPS) of $2.41, which did not meet analysts' expectations of $2.44 by a small margin. However, the company's revenue for the quarter reached $9.44 billion, surpassing the consensus estimate of $9.35 billion. Compared to the same quarter last year, revenue increased by 8.3%, while EPS was $1.62 during that period. Analysts predict that Salesforce will achieve an EPS of 7.48 for the current fiscal year.

Salesforce Dividend Announcement

Salesforce has also announced a quarterly dividend of $0.40 per share, set to be distributed on January 9th. This dividend will be paid to shareholders on record as of December 18th, representing an annualized payout of $1.60, which yields about 0.47%. The ex-dividend date was the same as the record date. The company's dividend payout ratio (DPR) is reported at 26.32%.

Institutional Investors Take Position

Several institutional investors have recently adjusted their holdings in Salesforce. Notably, Independent Solutions Wealth Management LLC increased their stake by 7.3% in Q3, now holding 2,140 shares. Legacy Wealth Management LLC MS entered a new position valued at $210,000, while Garden State Investment Advisory Services LLC enhanced their ownership by 28%. Other participants, including Copley Financial Group Inc. and Oddo BHF Asset Management Sas, also established or expanded their stakes, collectively resulting in institutions holding approximately 80.43% of Salesforce’s stock.

Wall Street Analyst Perspectives

Recent analyst reports are generally positive about Salesforce. UBS Group raised its target price for the stock from $275.00 to $360.00, maintaining a “neutral” rating. Analysts from Phillip Securities continue to rate it as “accumulate” with a price target of $305.00. At the same time, Goldman Sachs upgraded its price target from $360.00 to $400.00, reiterating a “buy” rating. Northland Securities also lifted its target from $400.00 to $440.00 while keeping an “outperform” rating. In total, eight analysts have rated the stock as a hold, thirty assigned a buy rating, and four categorized it as a strong buy, resulting in an average rating of “Moderate Buy” and a price target of $378.86 according to MarketBeat.com.

Salesforce Overview

Salesforce, Inc., a leader in customer relationship management (CRM) technology, connects companies and customers globally. The company's comprehensive service suite allows businesses to manage data, track leads, analyze opportunities, produce quotes and invoices, and offer personalized customer support.

Salesforce, Insider, Stocks