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 the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $256.24, for a total transaction of $1,076,208.00. Following the transaction, the insider now directly owns 116,693 shares in the company, valued at $29,901,414.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 value 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 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 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 value 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 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.
• 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 value of $1,267,350.00.

Salesforce Stock Performance

Shares of CRM stock opened at $260.83 on Thursday. The stock has a market capitalization of $252.74 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 2.25 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company’s 50-day simple moving average is $259.03 and its 200-day simple moving average is $276.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. Equities analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 7.19%.

Institutional Trading of Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Salesforce in the fourth quarter valued at approximately $2,762,331,000. Capital International Investors boosted its position in Salesforce by 76.4% during 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 purchasing an additional 5,935,973 shares during the period. Cerity Partners LLC grew its stake in Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares during the last quarter. Capital Research Global Investors increased its position 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 buying an additional 3,044,611 shares during the period. Finally, GQG Partners LLC bought a new stake in Salesforce in the first quarter valued at $910,220,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. KeyCorp started coverage on shares of Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating for the company. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Morgan Stanley reduced their target price on Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Mizuho lowered their price target on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. One investment 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock 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.