Salesforce, Inc. (NYSE:CRM) Insider Sells $1,130,892.00 in Stock
Salesforce, Inc. (NYSE:CRM – Get Free Report) insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $269.26, for a total value of $1,130,892.00. Following the completion of the sale, the insider now directly owns 115,762 shares in the company, valued at approximately $31,170,076.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Parker Harris also recently made the following trade(s):
- On Tuesday, May 21st, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $285.20, for a total value 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 value 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 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 0.8 %
NYSE CRM traded up $2.27 during mid-day trading on Wednesday, reaching $272.10. 12,906,722 shares of the stock were exchanged, compared to its average volume of 5,450,530. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The business’s fifty day simple moving average is $285.74 and its 200 day simple moving average is $275.88. The stock has a market capitalization of $263.39 billion, a PE ratio of 64.62, a PEG ratio of 2.40 and a beta of 1.30. 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 earnings results 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. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the business earned $1.15 earnings per share. Salesforce’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Robert W. Baird boosted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Jefferies Financial Group increased their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Piper Sandler reissued a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.94.
Read Our Latest Stock Analysis on Salesforce
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Marks Group Wealth Management Inc lifted its position 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 last quarter. Roman Butler Fullerton & Co. grew its position in Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after acquiring an additional 105 shares in the last quarter. Pure Financial Advisors LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $214,000. Lone Pine Capital LLC raised its stake in Salesforce by 47.5% during 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 purchasing an additional 804,634 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in 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 buying an additional 6,888 shares during the period. 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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