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

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 5,600 shares of Salesforce stock in a transaction on 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 transaction, the insider now owns 116,693 shares in the company, valued at $29,193,087.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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 stock was 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 Price Performance

NYSE:CRM opened at $257.10 on Friday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a 50 day moving average of $259.79 and a two-hundred day moving average of $276.20. 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 firm has a market cap of $249.13 billion, a P/E ratio of 46.24, a price-to-earnings-growth 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, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the business earned $1.15 EPS. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Institutional Investors Weigh In On Salesforce

Large investors have recently made changes to their positions in the stock. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $26,000. Ruedi Wealth Management Inc. grew its position in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the fourth quarter valued at approximately $31,000. Finally, Pacifica Partners Inc. lifted its holdings in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Oppenheimer dropped their target price on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Mizuho lowered their price target on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Stifel Nicolaus lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Morgan Stanley lowered their price target on Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $325.00 price target (down previously from $380.00) on shares of Salesforce in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to 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.