Salesforce, Inc. (NYSE:CRM) Insider Sells $884,081.52 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,528 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, August 27th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $262.90, for a total value of $1,104,180.00.
• On Tuesday, August 20th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00.
• 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 value of $1,069,194.00.
• On Friday, August 9th, Parker Harris sold 1,400 shares of Salesforce stock. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00.
• On Tuesday, August 6th, Parker Harris sold 2,800 shares of Salesforce stock. The stock was 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 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 stock was 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 transaction of $1,400,952.00.

Salesforce Price Performance

Shares of Salesforce stock opened at $243.97 on Friday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The stock has a market cap of $236.41 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company’s 50-day moving average price is $254.52 and its two-hundred day moving average price is $269.68.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.52 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRM shares. Barclays cut their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Citigroup increased their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $304.41.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently modified their holdings of CRM. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 1,008,841 shares during the period. Capital World Investors boosted its stake in Salesforce by 2.4% in the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after purchasing an additional 457,463 shares during the period. Fisher Asset Management LLC grew its position in Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after purchasing an additional 736,986 shares in the last quarter. Capital Research Global Investors grew its position in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors raised its stake in Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after purchasing an additional 407,834 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.