Parker Harris Sells 3,528 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Posted by Joseph Griffin on Sep 7th, 2024

Salesforce, Inc. (NYSE:CRM – Get Free Report) insider Parker Harris sold 3,528 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total value of $884,081.52. Following the sale, the insider now owns 117,581 shares in the company, valued at approximately $29,464,622.79. The sale 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 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 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 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 stock was 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 value 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 value 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 value of $1,070,580.00.
On Tuesday, July 9th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $252.75, for a total transaction of $1,061,550.00.
On Tuesday, July 2nd, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $256.24, for a total transaction of $1,076,208.00.
On Thursday, June 27th, Parker Harris sold 5,600 shares of Salesforce stock. The stock was sold at an average price of $250.17, for a total transaction of $1,400,952.00.

Salesforce Stock Down 0.9 %

Shares of NYSE:CRM opened at $244.02 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $236.46 billion, a P/E ratio of 43.89, a P/E/G ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock’s fifty day simple moving average is $254.52 and its 200-day simple moving average is $269.79.

Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.66%. Salesforce’s payout ratio is currently 28.78%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after purchasing an additional 1,008,841 shares during the last quarter. Capital World Investors increased its stake in shares of Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after acquiring an additional 457,463 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after acquiring an additional 736,986 shares during the period. Capital Research Global Investors boosted its position in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. Finally, Capital International Investors grew its holdings in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after purchasing an additional 407,834 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Wedbush reissued an “outperform” rating and issued a $315.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Canaccord Genuity Group lifted their target price on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Robert W. Baird increased their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $304.41.

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Salesforce Company Profile

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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.