Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 942 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 942 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total value of $249,422.76. Following the sale, the insider now owns 118,514 shares in the company, valued at $31,380,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, September 17th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were 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 shares were 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 stock was 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 stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00.
• On Friday, August 9th, Parker Harris sold 1,400 shares of Salesforce stock. The shares were 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 stock was 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 transaction of $1,070,580.00.
• On Tuesday, July 9th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $252.75, for a total transaction of $1,061,550.00.

Salesforce Stock Performance

Shares of NYSE CRM traded down $2.59 during trading hours on Monday, hitting $264.21. 6,021,441 shares of the stock were exchanged, compared to its average volume of 6,573,043. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50 day moving average is $254.37 and its 200 day moving average is $265.91. The firm has a market capitalization of $256.02 billion, a P/E ratio of 47.52, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRM shares. Bank of America restated a “buy” rating and set a $325.00 target price on shares of Salesforce in a report on Friday, September 6th. Piper Sandler boosted their target price on shares of Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Sanford C. Bernstein boosted their price objective on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Finally, FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $306.00.

Institutional Trading of Salesforce

A number of hedge funds have recently bought and sold shares of CRM. Greater Midwest Financial Group LLC lifted its holdings in shares of Salesforce by 4.2% during the 2nd quarter. Greater Midwest Financial Group LLC now owns 20,768 shares of the CRM provider’s stock worth $5,302,000 after acquiring an additional 845 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Salesforce by 23.4% during the 2nd quarter. Centaurus Financial Inc. now owns 12,464 shares of the CRM provider’s stock worth $3,204,000 after acquiring an additional 2,365 shares during the period. Anchor Investment Management LLC increased its position in shares of Salesforce by 5.5% during the 2nd quarter. Anchor Investment Management LLC now owns 3,709 shares of the CRM provider’s stock worth $954,000 after purchasing an additional 195 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Salesforce by 130.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 187,072 shares of the CRM provider’s stock worth $48,096,000 after purchasing an additional 105,972 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. increased its position in shares of Salesforce by 12.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 950 shares of the CRM provider’s stock worth $244,000 after purchasing an additional 108 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

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.