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 company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $270.93, for a total value of $1,137,906.00. Following the sale, the insider now owns 115,762 shares in the company, valued at $31,363,398.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $301.75, for a total value of $1,267,350.00.
• On Tuesday, March 26th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $306.50, for a total value of $1,287,300.00.
• On Tuesday, March 19th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $299.60, for a total transaction of $1,258,320.00.

Salesforce Stock Performance

NYSE:CRM opened at $268.69 on Thursday. The stock has a market cap of $260.63 billion, a P/E ratio of 63.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. The firm’s fifty day simple moving average is $295.04 and its 200 day simple moving average is $265.67. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Truist Financial restated a “buy” rating and issued a $360.00 price objective (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Robert W. Baird upped their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Evercore ISI increased their price target on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Citigroup increased their price target on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Institutional Trading of Salesforce

Hedge funds have recently modified their holdings of the business. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the 4th quarter valued at $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce in the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce in the 4th quarter worth about $31,000. Pacifica Partners Inc. raised its position in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, Red Tortoise LLC purchased a new position in shares of Salesforce in the 1st quarter worth about $33,000. Institutional investors own 80.43% of the company’s stock.

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.