Salesforce Director Sells $5,228,464 in Stock

On December 20th, G Mason Morfit, a director at Salesforce, Inc. (NYSE:CRM), executed a significant transaction involving the sale of 15,353 shares of the company's stock. The shares were sold at an average price of $340.55, culminating in a total transaction value of $5,228,464.15. Post-transaction, Morfit holds 2,898,509 shares of Salesforce, valued at approximately $987,087,239.95. This sale marks a 0.53% reduction in his ownership stake. The details of this transaction were filed legally with the Securities and Exchange Commission, and interested parties can find the disclosure online.

Recent Trading Activity by G Mason Morfit

In a related note, just two days prior on December 18th, Morfit had sold a much larger volume of shares, totaling 722,300, at an average price of $346.11. This earlier transaction amounted to about $249,995,253.

Salesforce Stock Performance

On the day of the latest sale, Salesforce shares opened at $343.65. The stock has shown a positive trend recently, with a 2.2% increase noted. Over the last 50 days, its moving average price stood at $323.14, and the 200-day moving average price was $279.01. Salesforce's stock has experienced a 12-month low of $212.00 and a high of $369.00. The company's market capitalization is reported at $328.87 billion, while key financial ratios reveal a price-to-earnings ratio of 56.52 and a debt-to-equity ratio of 0.14.

Quarterly Earnings Report

Salesforce's recent quarterly earnings report, released on December 3rd, showed earnings per share (EPS) of $2.41, which fell slightly short of analysts' expectations of $2.44 by $0.03. In terms of revenue, the company reported $9.44 billion, surpassing the consensus estimate of $9.35 billion. Year-over-year, Salesforce's revenue increased by 8.3%. For the current fiscal year, analysts predict Salesforce will post an EPS of 7.48.

Dividend Declaration

In addition, Salesforce announced a quarterly dividend set to be distributed on January 9th. Shareholders recorded as of December 18th will receive a payment of $0.40 per share, leading to an annualized dividend of $1.60 and a yield of 0.47%. The company's current dividend payout ratio stands at 26.32%.

Analyst Ratings and Price Targets

Brokerage firms have recently reevaluated their price targets for Salesforce shares. Robert W. Baird raised their target from $340.00 to $430.00, while Barclays set their price target from $415.00 to $425.00. Bank of America lifted its target from $390.00 to $440.00, indicating a robust confidence in Salesforce's performance. Overall, sentiment from various analysts remains positive, with forecasts implying that the stock could exceed $400 in the coming years.

Institutional Investor Activity

Recent activity among institutional investors shows a growing interest in Salesforce. Institutions now hold about 80.43% of the stock. Notably, Infrastructure Capital Advisors LLC established a new position valued at around $27,000 in the third quarter, and several others increased their holdings substantially.

Company Overview

Salesforce, Inc. specializes in Customer Relationship Management (CRM) technology, streamlining the way companies manage their interactions with customers globally. Their services include data storage, lead monitoring, forecasting, analytics, and customer support, enhancing businesses' capabilities to engage with their clients.

Salesforce, Morfit, Stock