Salesforce, Inc. (NYSE:CRM) Insider Sells $1,079,568.00 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $30,223,020.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value 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 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 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 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 stock was sold at an average price of $252.75, for a total value of $1,061,550.00.
• On Tuesday, July 2nd, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00.

Salesforce Trading Down 1.1 %

NYSE CRM opened at $252.42 on Thursday. The stock’s 50-day simple moving average is $253.60 and its two-hundred day simple moving average is $267.01. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $244.59 billion, a price-to-earnings ratio of 45.40, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.63 EPS. Research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm 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. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. Macquarie dropped their price objective on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. UBS Group upped their price target on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets raised their price objective on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Roth Mkm reissued a “buy” rating and set a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Finally, Erste Group Bank restated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $305.55.

Hedge Funds Weigh In On Salesforce

Large investors have recently added to or reduced their stakes in the business. Capital International Investors increased its holdings in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares during the period. Capital Research Global Investors boosted its stake in shares of Salesforce by 26.9% during 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 purchasing an additional 3,044,611 shares during the period. GQG Partners LLC bought a new position in shares of Salesforce in the first quarter worth approximately $910,220,000. Swedbank AB purchased a new position in shares of Salesforce in the first quarter worth $874,748,000. Finally, Coatue Management LLC bought a new stake in Salesforce during the 4th quarter valued at $564,188,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.