Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 3,970 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the transaction, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, October 29th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $298.04, for a total value 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 value 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 value of $1,217,454.00.
• On Tuesday, October 8th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was 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 transaction of $1,141,350.00.
• On Monday, September 23rd, Parker Harris sold 942 shares of Salesforce stock. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76.
• On Tuesday, September 17th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was 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 shares were 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 stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00.

Salesforce Trading Up 1.3 %

NYSE:CRM opened at $310.78 on Friday. The firm’s 50 day moving average is $275.30 and its 200 day moving average is $263.86. Salesforce, Inc. has a 12 month low of $208.84 and a 12 month high of $318.71. The stock has a market capitalization of $297.11 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.51%. Salesforce’s payout ratio is 27.83%.

Institutional Trading of Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the business. Avidian Wealth Solutions LLC purchased a new stake in Salesforce during the 1st quarter worth about $396,000. Csenge Advisory Group boosted its position in shares of Salesforce by 11.6% in the first quarter. Csenge Advisory Group now owns 3,736 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 387 shares during the period. SPC Financial Inc. boosted its position in shares of Salesforce by 4.5% in the first quarter. SPC Financial Inc. now owns 1,468 shares of the CRM provider’s stock valued at $442,000 after acquiring an additional 63 shares during the period. Hemington Wealth Management purchased a new position in Salesforce during the first quarter valued at approximately $210,000. Finally, Hemenway Trust Co LLC increased its holdings in Salesforce by 13.7% during the 1st quarter. Hemenway Trust Co LLC now owns 1,745 shares of the CRM provider’s stock worth $526,000 after acquiring an additional 210 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. DA Davidson increased their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and raised their target price for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Bank of America restated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Friday, September 6th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Finally, Morgan Stanley upped their price objective on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.37.

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.