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

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the sale, the insider now owns 117,581 shares in the company, valued at approximately $30,251,239.68. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 value 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.
• 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 shares were 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 transaction 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 shares were 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 stock was sold at an average price of $277.22, for a total transaction of $1,164,324.00.

Salesforce Stock Performance

Shares of NYSE CRM traded up $0.87 during trading hours on Wednesday, hitting $258.80. 4,646,156 shares of the company’s stock were exchanged, compared to its average volume of 6,770,589. The company’s 50-day moving average price is $250.11 and its 200-day moving average price is $275.37. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. 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 stock has a market capitalization of $250.78 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 2.27 and a beta of 1.29.

Salesforce (NYSE:CRM) last released 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. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. Salesforce’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $1.15 EPS. On average, sell-side analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio is currently 28.78%.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently modified their holdings of the stock. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the 4th quarter worth about $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth approximately $26,000. Ruedi Wealth Management Inc. increased its stake 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 worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wedbush lowered their price target on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Macquarie cut their price objective on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. BMO Capital Markets lowered their price target on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Wolfe Research reiterated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a report on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price target on shares of Salesforce in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.