Salesforce, Inc. (NYSE:CRM) Insider Sells $1,164,324.00 in Stock
Salesforce, Inc. (NYSE:CRM – Get Free Report) insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 115,762 shares of the company’s stock, valued at approximately $32,091,541.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Parker Harris also recently made the following trade(s):
- 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 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 Stock Performance
Shares of CRM stock traded up $1.67 during trading hours on Wednesday, reaching $278.85. The stock had a trading volume of 3,282,396 shares, compared to its average volume of 5,499,356. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50-day simple moving average of $293.29 and a 200-day simple moving average of $267.99. The firm has a market capitalization of $269.93 billion, a PE ratio of 66.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. As a group, equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.
Salesforce Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. Salesforce’s dividend payout ratio is presently 9.52%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research report on Thursday, March 7th. JPMorgan Chase & Co. upped their target price on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Argus raised their price target on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Piper Sandler restated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.
Read Our Latest Analysis on CRM
Hedge Funds Weigh In On Salesforce
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $26,000. Red Tortoise LLC bought a new position in Salesforce in the first quarter worth $33,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the fourth quarter valued at $31,000. 80.43% of the stock is owned by institutional investors.
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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