Salesforce, Inc. (NYSE:CRM) Insider Sells $165,828.39 in Stock

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 shares were sold at an average price of $170.43, for a total value of $165,828.39. Following the completion of the transaction, the insider now directly owns 93,103 shares of the company’s stock, valued at $15,867,544.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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

Shares of NYSE CRM traded up $5.60 during trading hours on Thursday, hitting $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 debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $172.18 billion, a price-to-earnings ratio of 167.55, a P/E/G ratio of 4.57 and a beta of 1.16. Salesforce, Inc. has a 12 month low of $154.55 and a 12 month high of $311.75. The business has a 50-day simple moving average of $172.00 and a 200-day simple moving average of $205.29.

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

Several research firms have recently issued reports on CRM. Bank of America reduced their target price on Salesforce from $360.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. CICC Research began coverage on Salesforce in a report on Monday, May 9th. They set an “outperform” rating for the company. The Goldman Sachs Group set a $360.00 price objective on Salesforce and gave the company a “buy” rating in a report on Wednesday, March 2nd. Barclays increased their price objective on Salesforce from $208.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday, June 1st. Finally, Cowen reduced their price objective on Salesforce from $285.00 to $225.00 in a report on Monday, May 23rd. Four equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $272.50.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mayflower Financial Advisors LLC grew its stake in shares of Salesforce by 1.2% in the fourth quarter. Mayflower Financial Advisors LLC now owns 3,794 shares of the CRM provider’s stock worth $964,000 after purchasing an additional 46 shares during the last quarter. Insight Wealth Strategies LLC boosted its position in Salesforce by 0.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 9,652 shares of the CRM provider’s stock valued at $2,453,000 after acquiring an additional 47 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc. boosted its position in Salesforce by 4.1% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc. now owns 1,204 shares of the CRM provider’s stock valued at $306,000 after acquiring an additional 47 shares in the last quarter. Bedel Financial Consulting Inc. boosted its position in Salesforce by 7.0% during the 4th quarter. Bedel Financial Consulting Inc. now owns 738 shares of the CRM provider’s stock valued at $188,000 after acquiring an additional 48 shares in the last quarter. Finally, Carret Asset Management LLC boosted its position in Salesforce by 2.3% during the 4th quarter. Carret Asset Management LLC now owns 2,092 shares of the CRM provider’s stock valued at $532,000 after acquiring an additional 48 shares in the last quarter. 77.75% of the stock is currently owned by institutional investors.

Salesforce Company Profile (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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