Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 3,970 Shares

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,970 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 value of $1,251,768.00.
• On Tuesday, October 22nd, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00.
• On Tuesday, October 15th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00.
• On Tuesday, October 8th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00.
• On Tuesday, October 1st, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $271.75, for a total transaction of $1,141,350.00.
• On Monday, September 23rd, Parker Harris sold 942 shares of Salesforce stock. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76.
• On Tuesday, September 17th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00.
• On Tuesday, September 3rd, Parker Harris sold 3,528 shares of Salesforce stock. The stock was sold at an average price of $250.59, for a total value of $884,081.52.
• 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 value 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 transaction of $1,104,474.00.

Salesforce Trading Up 3.2 %

NYSE CRM opened at $306.90 on Thursday. The company has a market cap of $293.40 billion, a PE ratio of 53.37, a PEG ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $208.84 and a 12 month high of $318.71. The stock has a 50 day moving average of $275.30 and a 200-day moving average of $263.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the stock. Ruedi Wealth Management Inc. lifted its holdings in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Stephens Consulting LLC boosted its position in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the second quarter worth about $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on CRM shares. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Citigroup boosted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Loop Capital reiterated a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. JMP Securities reissued a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Finally, Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $313.37.

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.