Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells $352,268.00 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 1,400 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $251.62, for a total value of $352,268.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,585,731.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 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 transaction of $675,416.00.
• On Tuesday, July 30th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were 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 stock was 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 value of $1,061,550.00.
• On Tuesday, July 2nd, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $256.24, for a total value 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 transaction of $1,400,952.00.
• On Tuesday, June 11th, Parker Harris sold 2,800 shares of Salesforce stock. The shares were 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 stock was 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.

Salesforce Stock Up 0.3 %

Shares of NYSE CRM opened at $255.29 on Thursday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a 50-day simple moving average of $248.65 and a two-hundred day simple moving average of $273.27. The company has a market cap of $247.38 billion, a P/E ratio of 45.92, a PEG ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is presently 28.78%.

Analyst Ratings Changes

Several equities analysts have recently commented on CRM shares. Robert W. Baird lowered their price objective on Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Truist Financial restated a “buy” rating and issued a $300.00 price target (down from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Thursday, May 30th. Raymond James reissued a “strong-buy” rating and issued a $325.00 target price (down previously from $380.00) on shares of Salesforce in a report on Thursday, May 30th. Finally, Citigroup cut their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Capital World Investors increased its stake in shares of Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after buying an additional 457,463 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after acquiring an additional 752,566 shares in the last quarter. Capital Research Global Investors lifted its stake 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 during the period. Finally, Capital International Investors grew its holdings in Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

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.