Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 973 Shares

Salesforce, Inc. (NYSE:CRMGet Rating) insider Parker Harris sold 973 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total value of $165,828.39. Following the transaction, the insider now directly owns 93,103 shares in the company, valued at $15,867,544.29. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Parker Harris also recently made the following trade(s):

  • On Monday, April 18th, Parker Harris sold 1,712 shares of Salesforce stock. The stock was sold at an average price of $188.16, for a total value of $322,129.92.

Shares of CRM stock traded up $5.60 on Thursday, reaching $173.05. The company’s stock had a trading volume of 7,218,586 shares, compared to its average volume of 7,913,803. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 12-month low of $154.55 and a 12-month high of $311.75. The company has a market capitalization of $172.18 billion, a P/E ratio of 167.55, a PEG ratio of 4.57 and a beta of 1.16. The stock’s 50 day simple moving average is $172.00 and its 200-day simple moving average is $205.29.

Salesforce (NYSE:CRMGet Rating) last issued its quarterly earnings data on Tuesday, May 31st. The CRM provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter last year, the business posted $0.74 earnings per share. The firm’s revenue was up 24.3% compared to the same quarter last year. Research analysts expect that Salesforce, Inc. will post 2.18 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Salesforce by 1.9% during the first quarter. Vanguard Group Inc. now owns 77,620,937 shares of the CRM provider’s stock valued at $16,480,478,000 after purchasing an additional 1,458,042 shares in the last quarter. State Street Corp raised its position in Salesforce by 1.0% during the first quarter. State Street Corp now owns 44,687,516 shares of the CRM provider’s stock valued at $9,488,053,000 after purchasing an additional 433,659 shares in the last quarter. Geode Capital Management LLC raised its position in Salesforce by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 15,448,821 shares of the CRM provider’s stock valued at $3,914,460,000 after purchasing an additional 564,493 shares in the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 4.6% during the first quarter. Fisher Asset Management LLC now owns 15,234,715 shares of the CRM provider’s stock valued at $3,234,635,000 after purchasing an additional 669,616 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Salesforce by 42.2% during the fourth quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock valued at $3,509,260,000 after purchasing an additional 4,096,666 shares in the last quarter. Institutional investors and hedge funds own 77.75% of the company’s stock.

A number of research analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on Salesforce from $315.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Stifel Nicolaus dropped their price target on Salesforce from $300.00 to $250.00 in a research note on Wednesday, June 1st. StockNews.com started coverage on Salesforce in a report on Thursday, March 31st. They set a “hold” rating for the company. Raymond James decreased their price objective on Salesforce from $300.00 to $250.00 in a report on Wednesday, June 1st. Finally, Wells Fargo & Company boosted their price objective on Salesforce from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, June 1st. Four research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.50.

About Salesforce (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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