Salesforce, Inc. (NYSE:CRM) Insider Sells $216,646.56 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value 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. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $339.78, for a total value of $320,072.76.
• On Tuesday, November 5th, Parker Harris sold 3,970 shares of Salesforce stock. The stock was sold at an average price of $296.74, for a total value 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 Up 0.6 %

CRM opened at $334.75 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $320.36 billion, a P/E ratio of 55.06, a PEG ratio of 2.95 and a beta of 1.30. The company’s 50-day moving average is $336.50 and its 200 day moving average is $293.20. 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 earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. Research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Infrastructure Capital Advisors LLC bought a new stake in Salesforce in the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the 2nd quarter worth approximately $33,000. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC lifted its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in Salesforce during the third quarter valued at $53,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One equities research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.