Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 4,200 Shares

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total transaction of $1,141,350.00. Following the sale, the insider now owns 118,514 shares of the company’s stock, valued at $32,206,179.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, September 23rd, Parker Harris sold 942 shares of Salesforce stock. The stock was sold at an average price of $264.78, for a total value of $249,422.76.
• 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 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 stock was 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 transaction 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 value of $1,080,576.00.
• On Tuesday, July 16th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00.

Salesforce Stock Up 3.2 %

Shares of CRM stock traded up $8.61 on Wednesday, hitting $279.48. The stock had a trading volume of 7,570,234 shares, compared to its average volume of 6,559,659. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business has a 50 day moving average price of $256.95 and a 200 day moving average price of $264.65. The company has a market cap of $270.82 billion, a PE ratio of 49.82, a P/E/G ratio of 2.39 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 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 analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CRM shares. Wedbush lifted their price objective on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Bank of America reiterated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. BMO Capital Markets increased their price target on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors boosted its position in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares in the last quarter. Capital Research Global Investors boosted its holdings in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Salesforce during the first quarter worth about $910,220,000. Swedbank AB acquired a new position in shares of Salesforce during the first quarter valued at about $874,748,000. Finally, Coatue Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $564,188,000. 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.