Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 5,600 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $250.17, for a total value of $1,400,952.00. Following the completion of the sale, the insider now directly owns 116,693 shares in the company, valued at $29,193,087.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Parker Harris also recently made the following trade(s):

• On Tuesday, June 11th, Parker Harris sold 2,800 shares of Salesforce stock. The shares were sold at an average price of $240.40, for a total value of $673,120.00.
• On Tuesday, June 4th, Parker Harris sold 2,800 shares of Salesforce stock. The shares were sold at an average price of $235.99, for a total value of $660,772.00.
• On Tuesday, May 28th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $269.26, for a total value of $1,130,892.00.
• On Tuesday, May 21st, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $285.20, for a total value of $1,197,840.00.
• On Tuesday, May 14th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $276.93, for a total value of $1,163,106.00.
• On Tuesday, May 7th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $277.22, for a total value of $1,164,324.00.
• On Tuesday, April 30th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $270.93, for a total value of $1,137,906.00.
• On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $301.75, for a total value of $1,267,350.00.

Salesforce Trading Up 1.7 %

CRM traded up $4.25 during trading on Friday, reaching $257.10. 11,972,195 shares of the company’s stock were exchanged, compared to its average volume of 6,985,788. The company’s fifty day moving average price is $259.79 and its 200-day moving average price is $276.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market capitalization of $249.13 billion, a PE ratio of 46.24, a P/E/G ratio of 2.13 and a beta of 1.25.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 EPS. As a group, equities analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s payout ratio is 7.19%.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of CRM. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce in the 4th quarter valued at about $26,000. Ruedi Wealth Management Inc. grew its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the 4th quarter valued at about $31,000. Finally, Pacifica Partners Inc. grew its stake in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent research reports. DA Davidson decreased their target price on Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Macquarie cut their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Piper Sandler cut their price target on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Citigroup cut their price target on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Oppenheimer cut their price target on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.79.

About Salesforce

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.