Salesforce (NYSE:CRM) Director Buys $25,015,680.00 in Stock

Salesforce Inc. (NYSE:CRM) Director G Mason Morfit bought 96,000 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were bought at an average price of $260.58 per share, with a total value of $25,015,680.00. Following the completion of the purchase, the director owned 2,994,509 shares in the company, valued at approximately $780,309,155.22. The trade was a 3.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Salesforce Stock Performance

Shares of CRM opened at $264.02 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98. Salesforce Inc. has a one year low of $221.96 and a one year high of $367.09. The firm has a market capitalization of $247.39 billion, a P/E ratio of 35.25, a PEG ratio of 1.95 and a beta of 1.25. The business has a fifty day moving average of $244.59 and a 200 day moving average of $252.26.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.39. The company had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $10.27 billion. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.Salesforce’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, sell-side analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.6%. Salesforce’s dividend payout ratio (DPR) is presently 22.16%.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently made changes to their positions in the business. Alecta Tjanstepension Omsesidigt raised its stake in Salesforce by 13.1% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 560,000 shares of the CRM provider’s stock valued at $132,698,000 after purchasing an additional 65,000 shares during the period. Saranac Partners Ltd purchased a new stake in Salesforce during the 3rd quarter valued at approximately $40,000. IFP Advisors Inc raised its position in shares of Salesforce by 17.4% during the third quarter. IFP Advisors Inc now owns 22,914 shares of the CRM provider’s stock valued at $5,432,000 after buying an additional 3,404 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of Salesforce by 5.1% in the third quarter. Swiss Life Asset Management Ltd now owns 275,577 shares of the CRM provider’s stock worth $65,312,000 after buying an additional 13,445 shares in the last quarter. Finally, Goldentree Asset Management LP purchased a new position in shares of Salesforce in the third quarter worth $39,784,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Bank of America reduced their target price on shares of Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a report on Monday, November 17th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Salesforce in a research report on Thursday, December 4th. Robert W. Baird reduced their price target on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research report on Thursday, December 4th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $260.00 price objective on shares of Salesforce in a research note on Thursday, December 4th. Twenty-eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $326.46.

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.