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 that occurred on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,586,572.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, October 22nd, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $288.82, for a total value of $1,213,044.00.
• On Tuesday, October 15th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00.
• On Tuesday, October 8th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $288.42, for a total transaction 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 transaction 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 value of $249,422.76.
• 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 value 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 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 stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $291.41 on Friday. The business has a 50-day moving average of $272.41 and a two-hundred day moving average of $263.22. The firm has a market capitalization of $278.59 billion, a PE ratio of 50.68, a P/E/G ratio of 2.61 and a beta of 1.30. 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 12 month low of $198.66 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last posted its 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 firm had revenue of $9.33 billion during 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 company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. As a group, research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research analyst reports. Wedbush boosted their price target on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird raised their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $313.37.

Institutional Trading of Salesforce

Several large investors have recently added to or reduced their stakes in CRM. Valley National Advisers Inc. grew its position in Salesforce by 13.6% in the first quarter. Valley National Advisers Inc. now owns 2,798 shares of the CRM provider’s stock valued at $842,000 after acquiring an additional 335 shares in the last quarter. Wealthstar Advisors LLC increased its stake in Salesforce by 6.6% during the 1st quarter. Wealthstar Advisors LLC now owns 1,192 shares of the CRM provider’s stock worth $359,000 after buying an additional 74 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Salesforce by 9.7% during the first quarter. First Trust Direct Indexing L.P. now owns 20,704 shares of the CRM provider’s stock valued at $6,236,000 after acquiring an additional 1,836 shares in the last quarter. Accel Wealth Management increased its holdings in Salesforce by 2.8% during the 1st quarter. Accel Wealth Management now owns 1,857 shares of the CRM provider’s stock worth $559,000 after purchasing an additional 50 shares during the last quarter. Finally, RBA Wealth Management LLC acquired a new position in shares of Salesforce in the 1st quarter valued at approximately $207,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

About Salesforce

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.