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 company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $277.22, for a total value of $1,164,324.00. Following the transaction, the insider now directly owns 115,762 shares in the company, valued at approximately $32,091,541.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 30th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $270.93, for a total transaction of $1,137,906.00.
• 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 transaction of $1,267,350.00.
• On Tuesday, March 26th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $306.50, for a total transaction 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 transaction of $1,258,320.00.

Salesforce Stock Down 1.4 %

Shares of CRM opened at $275.17 on Friday. The firm has a market cap of $266.36 billion, a PE ratio of 65.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. 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 company’s fifty day moving average is $292.87 and its two-hundred day moving average is $268.07. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

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

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CRM shares. BMO Capital Markets raised their price objective on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Stifel Nicolaus reissued a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Finally, Piper Sandler reissued a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $310.61.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Verdence Capital Advisors LLC lifted its stake in shares of Salesforce by 21.7% during the third quarter. Verdence Capital Advisors LLC now owns 1,839 shares of the CRM provider’s stock worth $373,000 after purchasing an additional 328 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Salesforce by 4.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 506,270 shares of the CRM provider’s stock valued at $102,660,000 after purchasing an additional 20,625 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Salesforce by 6.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,065 shares of the CRM provider’s stock valued at $1,427,000 after purchasing an additional 454 shares in the last quarter. CENTRAL TRUST Co increased its stake in Salesforce by 2.6% during the 3rd quarter. CENTRAL TRUST Co now owns 24,715 shares of the CRM provider’s stock worth $5,012,000 after buying an additional 616 shares during the period. Finally, Emerald Advisers LLC purchased a new position in Salesforce in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.