Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells $1,400,952.00 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 5,600 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, June 11th, Parker Harris sold 2,800 shares of Salesforce stock. The stock was sold at an average price of $240.40, for a total transaction of $673,120.00.
• On Tuesday, June 4th, Parker Harris sold 2,800 shares of Salesforce stock. The stock was sold at an average price of $235.99, for a total transaction of $660,772.00.
• On Tuesday, May 28th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $269.26, for a total transaction of $1,130,892.00.
• On Tuesday, May 21st, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $285.20, for a total value of $1,197,840.00.
• On Tuesday, May 14th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $276.93, for a total value of $1,163,106.00.
• On Tuesday, May 7th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $277.22, for a total value of $1,164,324.00.
• On Tuesday, April 30th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $270.93, for a total transaction of $1,137,906.00.
• On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $301.75, for a total transaction of $1,267,350.00.

Salesforce Stock Up 1.7 %

Shares of NYSE:CRM opened at $257.10 on Monday. The company has a market cap of $249.13 billion, a price-to-earnings ratio of 46.24, a PEG ratio of 2.26 and a beta of 1.25. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm’s 50-day simple moving average is $259.79 and its 200-day simple moving average is $276.47. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. Salesforce’s payout ratio is currently 7.19%.

Hedge Funds Weigh In On Salesforce

Large investors have recently made changes to their positions in the stock. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Red Tortoise LLC purchased a new position in Salesforce during the 1st quarter valued at about $33,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. JPMorgan Chase & Co. reduced their price objective on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Macquarie reduced their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Sanford C. Bernstein upped their target price on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Stifel Nicolaus decreased their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, BMO Capital Markets dropped their price objective on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $292.79.

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.