Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 4,200 Shares
Salesforce, Inc. (NYSE:CRM – Get Free Report) insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $276.93, for a total transaction of $1,163,106.00. Following the sale, the insider now owns 115,762 shares of the company’s stock, valued at approximately $32,057,970.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Parker Harris also recently made the following trade(s):
- On Tuesday, May 7th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was 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 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 stock was 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 stock was sold at an average price of $299.60, for a total transaction of $1,258,320.00.
Salesforce Trading Up 3.9 %
NYSE CRM traded up $10.74 during mid-day trading on Wednesday, reaching $287.54. 5,808,629 shares of the stock were exchanged, compared to its average volume of 5,417,002. The stock has a market capitalization of $278.34 billion, a PE ratio of 67.48, a PEG ratio of 2.13 and a beta of 1.30. The business’s fifty day simple moving average is $290.21 and its 200 day simple moving average is $270.73. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share 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 net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $1.01 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. 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 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.
Hedge Funds Weigh In On Salesforce
Hedge funds have recently made changes to their positions in the stock. Marks Group Wealth Management Inc raised its stake in shares of 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 acquiring an additional 257 shares during the period. Roman Butler Fullerton & Co. raised its stake in shares of Salesforce by 1.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after acquiring an additional 105 shares during the period. Pure Financial Advisors LLC purchased a new position in shares of Salesforce in the 4th quarter valued at $214,000. Lone Pine Capital LLC raised its stake in shares of Salesforce by 47.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after acquiring an additional 804,634 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of Salesforce by 0.8% in the 3rd quarter. Blair William & Co. IL now owns 821,761 shares of the CRM provider’s stock valued at $166,637,000 after acquiring an additional 6,888 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analyst Ratings Changes
Several research firms recently issued reports on CRM. Jefferies Financial Group increased their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. UBS Group increased their price target on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Wells Fargo & Company increased their target price on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Finally, KeyCorp began coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.
Read Our Latest Stock Analysis on Salesforce
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.
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