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

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,229,213.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, October 15th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00.
• On Tuesday, October 8th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00.
• On Tuesday, October 1st, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $271.75, for a total value of $1,141,350.00.
• On Monday, September 23rd, Parker Harris sold 942 shares of Salesforce stock. The stock was sold at an average price of $264.78, for a total transaction of $249,422.76.
• On Tuesday, September 17th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00.
• On Tuesday, September 3rd, Parker Harris sold 3,528 shares of Salesforce stock. The stock was 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 stock was 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 shares were sold at an average price of $251.62, for a total transaction of $352,268.00.

Salesforce Stock Down 1.4 %

CRM opened at $284.37 on Thursday. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The firm’s 50 day simple moving average is $268.70 and its two-hundred day simple moving average is $263.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $275.55 billion, a PE ratio of 51.15, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results 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. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. As a group, equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is 28.78%.

Analyst Ratings Changes

CRM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Cfra set a $343.00 price target on shares of Salesforce in a research note on Thursday, October 17th. Robert W. Baird upped their price objective on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, DA Davidson lifted their target price on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Hedge Funds Weigh In On Salesforce

Several large investors have recently added to or reduced their stakes in CRM. Prentice Wealth Management LLC raised its position in shares of Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares during the period. Fox Hill Wealth Management raised its holdings in Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares in the last quarter. Fulton Bank N.A. boosted its stake in shares of Salesforce by 0.4% in the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after acquiring an additional 38 shares during the period. Finally, CRA Financial Services LLC grew its position in shares of Salesforce by 3.4% during the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors 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.