Parker Harris Sells 5,600 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the completion of the sale, the insider now owns 116,693 shares in the company, valued at approximately $29,193,087.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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 shares were 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 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 shares were sold at an average price of $277.22, for a total transaction of $1,164,324.00.
• 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 stock was sold at an average price of $301.75, for a total transaction of $1,267,350.00.

Salesforce Stock Performance

NYSE CRM opened at $257.10 on Friday. 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 firm has a market capitalization of $249.13 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 2.13 and a beta of 1.25. The company’s fifty day moving average is $259.79 and its two-hundred day moving average is $276.20. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is currently 7.19%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CRM shares. Mizuho decreased their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Oppenheimer cut their target price on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Robert W. Baird cut their target price on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. KeyCorp began coverage on shares of Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Institutional Trading of Salesforce

Several institutional investors have recently made changes to their positions in the business. Bright Futures Wealth Management LLC. acquired a new stake in shares of Salesforce during the 1st quarter valued at about $579,000. Old Port Advisors acquired a new position in Salesforce in the first quarter valued at about $226,000. Mosaic Family Wealth Partners LLC boosted its position in Salesforce by 6.9% in the first quarter. Mosaic Family Wealth Partners LLC now owns 1,044 shares of the CRM provider’s stock valued at $314,000 after buying an additional 67 shares in the last quarter. OMC Financial Services LTD acquired a new position in Salesforce in the first quarter valued at about $3,415,000. Finally, Objective Capital Management LLC boosted its position in Salesforce by 10.7% in the first quarter. Objective Capital Management LLC now owns 1,035 shares of the CRM provider’s stock valued at $312,000 after buying an additional 100 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.