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

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $30,223,020.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, September 3rd, Parker Harris sold 3,528 shares of Salesforce stock. The shares were sold at an average price of $250.59, for a total value of $884,081.52.
• On Tuesday, August 27th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was 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 shares were 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 shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00.
• On Friday, August 9th, Parker Harris sold 1,400 shares of Salesforce stock. The stock was 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 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 stock was 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.

Salesforce Price Performance

Shares of NYSE:CRM traded down $2.77 during midday trading on Wednesday, reaching $252.42. The company’s stock had a trading volume of 4,431,202 shares, compared to its average volume of 6,524,118. The business’s fifty day simple moving average is $253.61 and its 200-day simple moving average is $267.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a market capitalization of $244.59 billion, a P/E ratio of 45.49, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company posted $1.63 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is 28.78%.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the company. Spartan Planning & Wealth Management boosted its holdings in Salesforce by 66.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after acquiring an additional 625 shares during the last quarter. Parnassus Investments LLC lifted its position in Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares during the period. TD Asset Management Inc boosted its stake in shares of Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after purchasing an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Salesforce by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after buying an additional 95 shares during the period. Finally, M&G Plc bought a new stake in shares of Salesforce during the first quarter worth approximately $2,178,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $315.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Finally, Citigroup raised their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.55.

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.