Salesforce, Inc. (NYSE:CRM) Insider Sells $1,251,768.00 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the business’s stock in a transaction 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 owns 119,402 shares in the company, valued at $35,586,572.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, October 22nd, Parker Harris sold 4,200 shares of Salesforce stock. The shares were 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 shares were 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 stock was 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 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 stock was 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 Up 1.1 %

CRM opened at $294.72 on Friday. The stock has a market cap of $281.75 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 2.68 and a beta of 1.30. 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 firm’s fifty day moving average is $273.02 and its 200 day moving average is $263.37. Salesforce, Inc. has a fifty-two week low of $204.69 and a fifty-two week high of $318.71.

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

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given 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 yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRM shares. Wedbush upped their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. JMP Securities reissued a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research note on Wednesday, August 28th. Evercore ISI restated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Finally, DA Davidson lifted their price objective on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $313.37.

Institutional Trading of Salesforce

Several hedge funds have recently made changes to their positions in the business. Umpqua Bank boosted its stake in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after buying an additional 34 shares during the period. Nvwm LLC lifted its holdings in shares of Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares during the last quarter. Prentice Wealth Management LLC boosted its stake 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 worth $686,000 after purchasing an additional 37 shares during the period. Private Wealth Management Group LLC grew its holdings in Salesforce by 11.6% during the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after purchasing an additional 37 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its position in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.