Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 942 Shares

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 942 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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.
• On Tuesday, October 22nd, Parker Harris sold 4,200 shares of Salesforce stock. The shares were 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 transaction 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 Stock Up 0.4 %

Shares of CRM opened at $344.43 on Wednesday. The business’s 50 day moving average is $324.16 and its 200 day moving average is $280.32. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market capitalization of $329.62 billion, a PE ratio of 56.65, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Investors Weigh In On Salesforce

Several large investors have recently made changes to their positions in the company. Aviance Capital Partners LLC grew its holdings in Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after buying an additional 33 shares in the last quarter. EWA LLC grew its holdings in shares of Salesforce by 1.7% in the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares in the last quarter. Umpqua Bank raised its stake in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares in the last quarter. Principal Street Partners LLC raised its stake in Salesforce by 1.0% during the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after purchasing an additional 34 shares in the last quarter. Finally, Nvwm LLC lifted its position in Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRM shares. UBS Group boosted their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Needham & Company LLC reissued a “buy” rating and set a $375.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Piper Sandler reiterated an “overweight” rating and set a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Scotiabank upped their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $378.86.

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.