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

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the completion of the sale, the insider now directly owns 116,693 shares in the company, valued at $29,494,155.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, July 2nd, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00.
• On Thursday, June 27th, Parker Harris sold 5,600 shares of Salesforce stock. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00.
• On Tuesday, June 11th, Parker Harris sold 2,800 shares of Salesforce stock. The stock was 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 transaction of $660,772.00.
• On Tuesday, May 28th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $269.26, for a total transaction of $1,130,892.00.
• On Tuesday, May 21st, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $285.20, for a total transaction 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 transaction of $1,163,106.00.
• On Tuesday, May 7th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were 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 shares were sold at an average price of $270.93, for a total value of $1,137,906.00.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $0.16 during trading on Wednesday, hitting $252.59. 8,913,400 shares of the company were exchanged, compared to its average volume of 6,954,663. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a 50 day moving average of $257.56 and a 200 day moving average of $276.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $244.76 billion, a PE ratio of 44.30, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results 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 business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the company earned $1.15 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 7.19%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRM. Wedbush reduced their price target on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. UBS Group decreased their target price on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Piper Sandler dropped their price target on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Stifel Nicolaus decreased their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Salesforce in the fourth quarter worth $2,762,331,000. Capital International Investors raised its holdings 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 valued at $3,607,493,000 after acquiring an additional 5,935,973 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after acquiring an additional 3,226,512 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. Finally, GQG Partners LLC purchased a new position in shares of Salesforce during the first quarter worth about $910,220,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.