Salesforce, Inc. (NYSE:CRM) Insider Sells $1,287,300.00 in Stock
Salesforce, Inc. (NYSE:CRM – Get Free Report) insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $306.50, for a total transaction of $1,287,300.00. Following the transaction, the insider now owns 105,837 shares in the company, valued at approximately $32,439,040.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Parker Harris also recently made the following trade(s):
- 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 NYSE:CRM traded down $4.42 during trading on Wednesday, reaching $301.41. 3,859,335 shares of the company traded hands, compared to its average volume of 5,779,520. The firm has a fifty day simple moving average of $293.59 and a 200 day simple moving average of $251.75. The firm has a market cap of $292.37 billion, a P/E ratio of 71.76, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $187.31 and a 1-year high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Salesforce Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Mizuho reiterated a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Argus lifted their price target on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target on the stock in a research report on Monday, December 18th. Finally, Wedbush lifted their price target on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $304.32.
View Our Latest Stock Report on CRM
Institutional Investors Weigh In On Salesforce
Several institutional investors and hedge funds have recently modified their holdings of CRM. Bear Mountain Capital Inc. acquired a new position in Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce during the 4th quarter worth $26,000. Union Savings Bank acquired a new position in Salesforce during the 2nd quarter worth $27,000. Aspect Partners LLC acquired a new position in Salesforce during the 4th quarter worth $29,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the 4th quarter worth $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
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.
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