Salesforce, Inc. (NYSE:CRM) Insider Sells $1,217,454.00 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 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 shares were 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 stock was 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 value of $1,104,180.00.
• On Tuesday, August 20th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00.
• On Tuesday, August 13th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00.
• On Friday, August 9th, Parker Harris sold 1,400 shares of Salesforce stock. The shares were sold at an average price of $251.62, for a total value of $352,268.00.
• On Tuesday, August 6th, Parker Harris sold 2,800 shares of Salesforce stock. The shares were sold at an average price of $241.22, for a total value of $675,416.00.

Salesforce Stock Up 0.9 %

Salesforce stock traded up $2.51 during mid-day trading on Wednesday, reaching $290.86. The company’s stock had a trading volume of 3,450,480 shares, compared to its average volume of 6,448,615. The business’s 50 day simple moving average is $263.98 and its 200 day simple moving average is $263.46. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $281.84 billion, a price-to-earnings ratio of 51.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Institutional Investors Weigh In On Salesforce

Several large investors have recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. grew its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank grew its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce during the first quarter valued at about $33,000. Clear Investment Research LLC boosted its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CRM shares. TD Cowen upped their target price on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Canaccord Genuity Group lifted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Oppenheimer raised their target price on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Robert W. Baird boosted their price target on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.74.

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.