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 company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total value of $1,141,350.00. Following the completion of the transaction, the insider now directly owns 118,514 shares in the company, valued at $32,206,179.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, September 23rd, Parker Harris sold 942 shares of Salesforce stock. The shares were sold at an average price of $264.78, for a total value 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 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 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 value 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 stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00.

Salesforce Trading Up 3.2 %

Shares of NYSE CRM traded up $8.61 during trading on Wednesday, reaching $279.48. The stock had a trading volume of 7,570,234 shares, compared to its average volume of 6,559,659. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $270.82 billion, a P/E ratio of 49.82, a PEG ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The business’s 50-day moving average price is $256.95 and its 200-day moving average price is $264.65.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, equities research analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.57%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRM. Capital International Investors raised its holdings in shares of Salesforce by 76.4% in 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 in the last quarter. Capital Research Global Investors increased its holdings 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 valued at $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new stake in Salesforce in the first quarter valued at $910,220,000. Swedbank AB purchased a new stake in Salesforce during the 1st quarter worth about $874,748,000. Finally, Coatue Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $564,188,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CRM shares. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Oppenheimer upped their target price on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Roth Mkm reissued a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $270.00 to $400.00 in a report on Wednesday. Finally, Canaccord Genuity Group boosted their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

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.