Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 652 Shares

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 652 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, December 23rd, Parker Harris sold 942 shares of Salesforce stock. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76.
• On Tuesday, November 5th, Parker Harris sold 3,970 shares of Salesforce stock. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80.
• 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.

Salesforce Stock Down 0.4 %

Shares of Salesforce stock opened at $333.47 on Friday. The company has a market capitalization of $319.13 billion, a PE ratio of 54.85, a P/E/G ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business has a 50-day moving average of $336.73 and a 200-day moving average of $294.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.62 earnings per share. As a group, equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRM. Bank of America raised their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Macquarie reiterated a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the second quarter valued at approximately $33,000. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC raised its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $53,000. Institutional investors own 80.43% of the company’s stock.

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.