Salesforce, Inc. (NYSE:CRM) Insider Sells $249,422.76 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 942 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at approximately $31,380,136.92. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, September 17th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were 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 shares were sold at an average price of $250.59, for a total transaction of $884,081.52.
• 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 transaction 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 transaction 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 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 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 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 transaction of $1,070,580.00.
• On Tuesday, July 9th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00.

Salesforce Price Performance

NYSE CRM traded down $2.59 during trading on Monday, hitting $264.21. 6,021,441 shares of the company’s stock were exchanged, compared to its average volume of 6,573,043. 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 cap of $256.02 billion, a PE ratio of 47.52, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock’s 50 day moving average price is $254.37 and its two-hundred day moving average price is $265.91.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during 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%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research note on Thursday. Oppenheimer lifted their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Mizuho cut their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $306.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Greater Midwest Financial Group LLC increased its stake in shares of Salesforce by 4.2% in the second quarter. Greater Midwest Financial Group LLC now owns 20,768 shares of the CRM provider’s stock valued at $5,302,000 after buying an additional 845 shares during the period. Centaurus Financial Inc. increased its stake in shares of Salesforce by 23.4% in the second quarter. Centaurus Financial Inc. now owns 12,464 shares of the CRM provider’s stock valued at $3,204,000 after buying an additional 2,365 shares during the period. Anchor Investment Management LLC increased its stake in shares of Salesforce by 5.5% in the second quarter. Anchor Investment Management LLC now owns 3,709 shares of the CRM provider’s stock valued at $954,000 after buying an additional 195 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Salesforce by 130.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 187,072 shares of the CRM provider’s stock valued at $48,096,000 after purchasing an additional 105,972 shares during the period. Finally, University of Texas Texas AM Investment Management Co. increased its position in Salesforce by 12.8% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 950 shares of the CRM provider’s stock valued at $244,000 after purchasing an additional 108 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.