Salesforce Director G Mason Morfit Sells $5,228,464 in Stock

Salesforce, Inc. (NYSE:CRM) Director G Mason Morfit sold 15,353 shares of the company’s stock on Friday, December 20th. The shares were sold at an average price of $340.55, bringing the total value of the transaction to $5,228,464.15. After this sale, Morfit holds 2,898,509 shares of Salesforce, worth approximately $987,087,239.95. This transaction reflects a slight decline of 0.53% in their overall ownership of the stock.

The details of the sale were filed with the Securities & Exchange Commission, which provides transparent access to such transactions.

Recent Transactions by G Mason Morfit

Aside from the sale on December 20th, G Mason Morfit executed other significant trades recently. On December 18th, he sold 722,300 shares of Salesforce stock at an average price of $346.11. This transaction amounted to approximately $249,995,253.00.

Current Stock Performance of Salesforce

As of the last trading day, Salesforce's stock opened at $343.65. The stock is trending upward, having increased by 2.2%. Additionally, it has a 50-day moving average of $323.14 and a 200-day moving average price of $279.01. The stock's performance has seen a 12-month low of $212.00 and a high of $369.00. Salesforce's financial metrics indicate a current ratio of 1.11, a quick ratio also at 1.11, and a debt-to-equity ratio of 0.14. The company's market capitalization stands at approximately $328.87 billion, with a price-to-earnings ratio of 56.52.

Earnings Report Overview

Salesforce recently reported its quarterly earnings on December 3rd. The company reported earnings per share (EPS) of $2.41, slightly lower than the expected EPS of $2.44. For the quarter, Salesforce generated $9.44 billion in revenue, exceeding analysts' predictions of $9.35 billion. The company’s net margin was reported at 15.96%, with a return on equity of 12.34%. This revenue reflects an 8.3% increase compared to the same quarter last year.

Dividend Announcement

The company also announced a quarterly dividend which will be disbursed on Thursday, January 9th. Shareholders on record as of December 18th will receive a dividend of $0.40 per share, translating to an annualized dividend of $1.60 and a yield of 0.47%. The dividend payout ratio is currently at 26.32%.

Market Insights and Analyst Recommendations

Several brokerage firms have recently adjusted their price targets for Salesforce. Robert W. Baird raised their target from $340.00 to $430.00, rating the stock as "outperform" on December 4th. Barclays also increased their price target from $415.00 to $425.00, and Bank of America adjusted their target from $390.00 to $440.00, labeling the stock as a "buy." Jefferies Financial Group made a similar update, raising their target from $400.00 to $425.00. Currently, analysts have assigned 30 buy ratings, 8 hold ratings, and 4 strong buy ratings, indicating a general consensus of a "Moderate Buy" with a price target average of $378.86.

Institutional Investors and Hedge Fund Activity

In recent months, many institutional investors have increased their positions in Salesforce. For example, Infrastructure Capital Advisors LLC recently acquired a new position valued at around $27,000 in the third quarter. Clear Investment Research LLC increased its ownership by over 800%, while Stephens Consulting LLC raised its stake significantly by 3,125.0%. Meanwhile, Godsey & Gibb Inc. also expanded its investments, indicating the confidence among large investors in Salesforce's growth. Currently, institutional investors hold about 80.43% of the stock.

Company Overview

Salesforce, Inc. offers Customer Relationship Management (CRM) technology that connects businesses with their customers globally. Their services include data management, lead tracking, opportunity forecasting, analytics, and customized customer support solutions.

Conclusion

The recent stock activity by Director G Mason Morfit, along with significant trades and favorable earnings data, indicates a strong market presence of Salesforce. Moving forward, investors appear to maintain confidence in the company's trajectory as evidenced by the analyst ratings and institutional investments.

Salesforce, Stock, Director