Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 942 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 942 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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.
• 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 shares were 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 stock was sold at an average price of $271.75, for a total value of $1,141,350.00.

Salesforce Trading Down 0.2 %

CRM traded down $0.75 during trading hours on Monday, reaching $342.90. The company’s stock had a trading volume of 5,329,221 shares, compared to its average volume of 6,448,090. The stock has a market cap of $328.16 billion, a PE ratio of 56.40, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50-day moving average is $323.14 and its 200-day moving average is $279.61.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

CRM has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price target on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $375.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Citigroup upped their price objective on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Phillip Securities restated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.86.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently made changes to their positions in CRM. Bailard Inc. grew its position in Salesforce by 1.5% in the 2nd quarter. Bailard Inc. now owns 20,380 shares of the CRM provider’s stock valued at $5,240,000 after acquiring an additional 310 shares in the last quarter. SlateStone Wealth LLC boosted its stake in shares of Salesforce by 10.2% in the second quarter. SlateStone Wealth LLC now owns 1,673 shares of the CRM provider’s stock valued at $430,000 after purchasing an additional 155 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Salesforce by 3.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,445 shares of the CRM provider’s stock valued at $886,000 after purchasing an additional 101 shares in the last quarter. Worth Financial Advisory Group LLC increased its stake in Salesforce by 34.1% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 2,362 shares of the CRM provider’s stock worth $607,000 after buying an additional 601 shares during the period. Finally, WealthShield Partners LLC lifted its holdings in Salesforce by 11.4% during the 2nd quarter. WealthShield Partners LLC now owns 10,019 shares of the CRM provider’s stock worth $2,576,000 after buying an additional 1,024 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.