Parker Harris Sells 4,200 Shares of Salesforce, Inc. (NYSE:CRM) Stock
Salesforce, Inc. (NYSE:CRM – Get Free Report) insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the sale, the insider now owns 105,837 shares of the company’s stock, valued at approximately $31,936,314.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Parker Harris also recently made the following trade(s):
- 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 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 Down 0.9 %
Shares of NYSE:CRM traded down $2.75 during midday trading on Wednesday, hitting $299.62. The stock had a trading volume of 3,035,453 shares, compared to its average volume of 5,577,123. The company has a market cap of $290.63 billion, a P/E ratio of 71.28, a PEG ratio of 2.32 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $187.31 and a 12 month high of $318.71. The business’s 50-day simple moving average is $297.97 and its 200-day simple moving average is $257.79. 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 announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Thursday, March 14th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s dividend payout ratio is 9.52%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on CRM. Canaccord Genuity Group reissued a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Oppenheimer raised their price objective on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Morgan Stanley raised Salesforce from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $290.00 to $350.00 in a research note on Thursday, December 21st. Finally, Royal Bank of Canada raised their price target on Salesforce from $285.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $304.97.
Check Out Our Latest Research Report on CRM
Institutional Trading of Salesforce
A number of hedge funds have recently made changes to their positions in the business. Pointe Capital Management LLC boosted its position in Salesforce by 370.0% during the second quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock worth $328,000 after purchasing an additional 1,221 shares during the period. Walkner Condon Financial Advisors LLC raised its holdings in Salesforce by 2.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after acquiring an additional 74 shares during the period. Procyon Advisors LLC lifted its position in Salesforce by 72.3% during the third quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock worth $5,978,000 after acquiring an additional 12,371 shares during the last quarter. Pure Financial Advisors LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $214,000. Finally, Riversedge Advisors LLC grew its position in shares of Salesforce by 21.7% in the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after purchasing an additional 420 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.
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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