Salesforce, Inc. (NYSE:CRM) Insider Sells $228,265.44 in Stock

Salesforce, Inc. (NYSE:CRMGet Free Report) insider Srinivas Tallapragada sold 942 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares of the company’s stock, valued at $5,368,357.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Salesforce Stock Up 0.6 %

Shares of NYSE CRM opened at $243.10 on Thursday. The stock has a market cap of $235.56 billion, a P/E ratio of 43.73, a PEG ratio of 2.12 and a beta of 1.25. The business’s fifty day simple moving average is $261.10 and its 200-day simple moving average is $276.56. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the business posted $1.15 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Evercore ISI reduced their price objective on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. JPMorgan Chase & Co. dropped their target price on Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. TD Cowen reduced their price target on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Finally, Macquarie dropped their price objective on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Read Our Latest Stock Analysis on CRM

Institutional Investors Weigh In On Salesforce

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Capital World Investors boosted its position 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 worth $5,147,402,000 after acquiring an additional 457,463 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after acquiring an additional 752,566 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Salesforce by 26.9% in the 1st 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. Finally, Capital International Investors raised its position in shares of Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

About Salesforce

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Salesforce (NYSE:CRM)

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