Salesforce, Inc. (NYSE:CRM) Insider Sells $1,178,057.80 in 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 transaction of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was 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 transaction of $1,217,454.00.
• On Tuesday, October 8th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were 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 transaction of $1,141,350.00.
• On Monday, September 23rd, Parker Harris sold 942 shares of Salesforce stock. The shares were 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 shares were sold at an average price of $257.04, for a total value 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 value 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 value 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 Trading Up 3.2 %

CRM traded up $9.41 during trading hours on Wednesday, reaching $306.90. The company’s stock had a trading volume of 5,722,768 shares, compared to its average volume of 6,258,257. The business’s 50-day moving average is $275.30 and its 200-day moving average is $263.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $293.40 billion, a PE ratio of 53.37, a P/E/G ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $208.84 and a fifty-two week 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, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently bought and sold shares of CRM. Ruedi Wealth Management Inc. grew its holdings in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank raised its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC grew its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC increased its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRM. Loop Capital reaffirmed a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Canaccord Genuity Group upped their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. UBS Group upped their target price on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Oppenheimer restated an “outperform” rating and set a $330.00 price objective (up from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Finally, Wedbush increased their price target on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $313.37.

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.