Salesforce, Inc. (NYSE:CRM) Insider Sells $216,646.56 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 652 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the sale, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, December 23rd, Parker Harris sold 942 shares of Salesforce stock. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76.
• On Tuesday, November 5th, Parker Harris sold 3,970 shares of Salesforce stock. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80.
• On Tuesday, October 29th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $298.04, for a total transaction of $1,251,768.00.

Salesforce Trading Down 0.4 %

Shares of Salesforce stock opened at $333.47 on Friday. The company has a fifty day simple moving average of $336.73 and a 200-day simple moving average of $294.01. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $319.13 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analyst Ratings Changes

A number of brokerages have commented on CRM. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley boosted their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently bought and sold shares of CRM. Cullinan Associates Inc. raised its position in Salesforce by 1.0% during the 4th quarter. Cullinan Associates Inc. now owns 18,586 shares of the CRM provider’s stock worth $6,214,000 after buying an additional 190 shares during the last quarter. RBA Wealth Management LLC raised its position in Salesforce by 1.8% during the 4th quarter. RBA Wealth Management LLC now owns 16,457 shares of the CRM provider’s stock worth $5,502,000 after buying an additional 285 shares during the last quarter. Calamos Wealth Management LLC raised its position in Salesforce by 813.3% during the 4th quarter. Calamos Wealth Management LLC now owns 29,809 shares of the CRM provider’s stock worth $9,966,000 after buying an additional 26,545 shares during the last quarter. Calamos Advisors LLC raised its position in Salesforce by 20.6% during the 4th quarter. Calamos Advisors LLC now owns 296,348 shares of the CRM provider’s stock worth $99,078,000 after buying an additional 50,522 shares during the last quarter. Finally, Patron Partners LLC raised its position in Salesforce by 8.1% during the 4th quarter. Patron Partners LLC now owns 1,939 shares of the CRM provider’s stock worth $648,000 after buying an additional 146 shares during 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.