Parker Harris Sells 3,970 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,970 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Tuesday, October 29th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00.
• On Tuesday, October 22nd, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00.
• On Tuesday, October 15th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00.
• On Tuesday, October 8th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00.
• 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 stock was 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 stock was 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 shares were sold at an average price of $250.59, for a total transaction of $884,081.52.
• On Tuesday, August 27th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $262.90, for a total transaction 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 value of $1,104,474.00.

Salesforce Stock Performance

Shares of Salesforce stock opened at $310.78 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $297.11 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29. The company has a 50 day moving average of $275.30 and a 200-day moving average of $263.86. Salesforce, Inc. has a 1-year low of $208.84 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. BMO Capital Markets increased their price target on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Citigroup upped their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $313.37.

Institutional Investors Weigh In On Salesforce

A number of hedge funds have recently made changes to their positions in the stock. Aviance Capital Partners LLC lifted its stake in Salesforce by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after purchasing an additional 33 shares during the last quarter. Umpqua Bank lifted its stake in shares of Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after acquiring an additional 34 shares during the last quarter. Nvwm LLC boosted its holdings in shares of Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after acquiring an additional 36 shares in the last quarter. Prentice Wealth Management LLC grew its position in Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares during the last quarter. Finally, Private Wealth Management Group LLC increased its holdings in Salesforce by 11.6% in the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after purchasing an additional 37 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.