Parker Harris Sells 4,200 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available 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 transaction 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 value 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 value of $884,081.52.
• On Tuesday, August 27th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were 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 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 transaction 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 %

Shares of Salesforce stock opened at $290.89 on Thursday. The firm has a market cap of $281.87 billion, a price-to-earnings ratio of 52.32, a PEG ratio of 2.61 and a beta of 1.30. The stock’s 50-day moving average is $265.00 and its 200 day moving average is $263.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm posted $1.63 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

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

Institutional Trading of Salesforce

Large investors have recently made changes to their positions in the company. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank raised its position in shares of 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 purchasing an additional 96 shares during the period. Red Tortoise LLC bought a new position in shares of Salesforce in the 1st quarter worth $33,000. Clear Investment Research LLC grew its position in Salesforce by 816.7% in 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 during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the second quarter worth $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Loop Capital reissued a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. Raymond James boosted their target price on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price target on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price 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.