Parker Harris Sells 2,800 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRMGet Free Report) insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $235.99, for a total value of $660,772.00. Following the sale, the insider now directly owns 115,762 shares in the company, valued at approximately $27,318,674.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

  • On Tuesday, May 28th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $269.26, for a total value of $1,130,892.00.
  • On Tuesday, May 21st, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $285.20, for a total transaction of $1,197,840.00.
  • On Tuesday, May 14th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $276.93, for a total transaction of $1,163,106.00.
  • On Tuesday, May 7th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $277.22, for a total transaction of $1,164,324.00.
  • On Tuesday, April 30th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $270.93, for a total value of $1,137,906.00.
  • On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was 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 stock was sold at an average price of $299.60, for a total value of $1,258,320.00.

Salesforce Stock Up 2.6 %

Shares of NYSE:CRM opened at $242.76 on Friday. The business’s 50 day moving average is $276.53 and its 200 day moving average is $276.05. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The stock has a market cap of $235.23 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 2.06 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 EPS. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Salesforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marks Group Wealth Management Inc grew its stake in Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after purchasing an additional 257 shares during the period. Roman Butler Fullerton & Co. grew its position in Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after buying an additional 105 shares during the period. Parnassus Investments LLC increased its holdings in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after buying an additional 18,397 shares during the last quarter. TD Asset Management Inc raised its position in Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares during the period. Finally, Pure Financial Advisors LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $214,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRM. Wolfe Research restated an “outperform” rating and set a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Thursday, May 30th. Mizuho cut their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. DA Davidson lowered their price objective on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, Oppenheimer dropped their price objective on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Get Our Latest Stock Analysis on CRM

Salesforce Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Salesforce (NYSE:CRM)

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