Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 3,528 Shares

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,528 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, August 27th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $262.90, for a total transaction of $1,104,180.00.
• On Tuesday, August 20th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00.
• On Tuesday, August 13th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00.
• On Friday, August 9th, Parker Harris sold 1,400 shares of Salesforce stock. The stock was sold at an average price of $251.62, for a total transaction of $352,268.00.
• On Tuesday, August 6th, Parker Harris sold 2,800 shares of Salesforce stock. The shares were sold at an average price of $241.22, for a total value of $675,416.00.
• On Tuesday, July 30th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00.
• On Tuesday, July 16th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00.
• On Tuesday, July 9th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00.
• On Tuesday, July 2nd, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00.
• On Thursday, June 27th, Parker Harris sold 5,600 shares of Salesforce stock. The shares were sold at an average price of $250.17, for a total value of $1,400,952.00.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $246.16 on Friday. The business has a 50-day moving average of $254.78 and a two-hundred day moving average of $270.11. The firm has a market capitalization of $238.53 billion, a PE ratio of 44.27, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. As a group, research analysts forecast that Salesforce, Inc. will post 7.52 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Ratings Changes

Several research firms have issued reports on CRM. Stifel Nicolaus increased their target price on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. BMO Capital Markets lifted their price objective on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. TD Cowen upped their target price on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Finally, Citigroup raised their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $304.41.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its position in Salesforce by 6.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after buying an additional 366 shares during the last quarter. Aveo Capital Partners LLC raised its holdings in Salesforce by 44.7% in the 4th quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after acquiring an additional 496 shares during the period. 9258 Wealth Management LLC increased its position in Salesforce by 24.0% in the 4th quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after buying an additional 1,253 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Salesforce by 19.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,278 shares of the CRM provider’s stock valued at $1,652,000 after buying an additional 1,008 shares during the period. Finally, Gryphon Financial Partners LLC boosted its position in shares of Salesforce by 32.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock valued at $1,064,000 after acquiring an additional 970 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.