Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 4,200 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total value of $1,213,044.00. Following the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,229,213.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, October 15th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00.
• On Tuesday, October 8th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00.
• On Tuesday, October 1st, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $271.75, for a total transaction of $1,141,350.00.
• On Monday, September 23rd, Parker Harris sold 942 shares of Salesforce stock. The stock was sold at an average price of $264.78, for a total transaction of $249,422.76.
• On Tuesday, September 17th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00.
• On Tuesday, September 3rd, Parker Harris sold 3,528 shares of Salesforce stock. The stock was sold at an average price of $250.59, for a total value of $884,081.52.
• On Tuesday, August 27th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00.
• On Tuesday, August 20th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00.
• On Tuesday, August 13th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00.
• On Friday, August 9th, Parker Harris sold 1,400 shares of Salesforce stock. The stock was sold at an average price of $251.62, for a total transaction of $352,268.00.

Salesforce Trading Up 0.8 %

Shares of CRM stock opened at $286.74 on Friday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a market capitalization of $277.85 billion, a price-to-earnings ratio of 51.70, a PEG ratio of 2.61 and a beta of 1.30. The firm has a 50-day moving average price of $268.70 and a 200 day moving average price of $263.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRM shares. Raymond James upped their target price on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Loop Capital reissued a “hold” rating and issued a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Truist Financial reaffirmed a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, Sanford C. Bernstein boosted their price objective on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $312.51.

Institutional Trading of Salesforce

Hedge funds have recently added to or reduced their stakes in the business. Ruedi Wealth Management Inc. lifted its holdings in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank increased its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Red Tortoise LLC purchased a new position in Salesforce during the first quarter worth approximately $33,000. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Finally, Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

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.