Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 4,200 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $270.93, for a total value of $1,137,906.00. Following the sale, the insider now directly owns 115,762 shares of the company’s stock, valued at $31,363,398.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $301.75, for a total value of $1,267,350.00.
• On Tuesday, March 26th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $306.50, for a total value of $1,287,300.00.
• On Tuesday, March 19th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $299.60, for a total value of $1,258,320.00.

Salesforce Price Performance

CRM stock opened at $268.69 on Thursday. Salesforce, Inc. has a 52-week low of $190.76 and a 52-week high of $318.71. The stock’s fifty day simple moving average is $295.04 and its 200-day simple moving average is $265.67. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $260.63 billion, a price-to-earnings ratio of 63.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. Equities research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new position in Salesforce in the fourth quarter valued at $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter valued at about $31,000. Pacifica Partners Inc. raised its position in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Finally, Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at about $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CRM shares. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Canaccord Genuity Group reissued a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. Citigroup increased their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Stifel Nicolaus reissued a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $310.61.

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.