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

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $277.22, for a total value of $1,164,324.00. Following the completion of the transaction, the insider now owns 115,762 shares of the company’s stock, valued at $32,091,541.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction of $1,137,906.00.
• On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $301.75, for a total transaction of $1,267,350.00.
• On Tuesday, March 26th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $306.50, for a total value of $1,287,300.00.
• On Tuesday, March 19th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $299.60, for a total value of $1,258,320.00.

Salesforce Stock Performance

Shares of NYSE CRM opened at $278.85 on Thursday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business’s 50-day moving average price is $293.29 and its two-hundred day moving average price is $267.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $269.93 billion, a P/E ratio of 66.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. Analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued 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 of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marks Group Wealth Management Inc grew its stake in shares of Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after acquiring an additional 257 shares during the last quarter. Roman Butler Fullerton & Co. grew its position in Salesforce by 1.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after purchasing an additional 105 shares during the last quarter. Pure Financial Advisors LLC bought a new position in shares of Salesforce during the 4th quarter worth about $214,000. Lone Pine Capital LLC raised its position in shares of Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after buying an additional 804,634 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Salesforce by 0.8% in the third quarter. Blair William & Co. IL now owns 821,761 shares of the CRM provider’s stock valued at $166,637,000 after buying an additional 6,888 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CRM. BMO Capital Markets upped their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Truist Financial reiterated a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Mizuho restated a “buy” rating and issued a $345.00 target price (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Evercore ISI increased their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Robert W. Baird lifted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

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.