Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 4,200 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00. Following the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,181,807.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 value of $1,141,350.00.
• 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 shares were 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 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 stock was 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 shares were 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 transaction of $352,268.00.
• On Tuesday, August 6th, Parker Harris sold 2,800 shares of Salesforce stock. The stock was 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.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $287.92 on Thursday. The business has a fifty day moving average of $259.72 and a 200-day moving average of $263.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The firm has a market cap of $278.99 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company posted $1.63 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is 28.78%.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Capital Research Global Investors boosted 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 acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new position in Salesforce during the 1st quarter valued at about $910,220,000. Swedbank AB bought a new position in shares of Salesforce in the 1st quarter valued at about $874,748,000. Coatue Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $564,188,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. 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. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Truist Financial reissued a “buy” rating and set a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. BNP Paribas upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Phillip Securities reiterated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.