Parker Harris Sells 652 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 652 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares in the company, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, December 23rd, Parker Harris sold 942 shares of Salesforce stock. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76.
• On Tuesday, November 5th, Parker Harris sold 3,970 shares of Salesforce stock. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80.
• On Tuesday, October 29th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00.

Salesforce Stock Down 0.4 %

Salesforce stock opened at $333.47 on Friday. The stock has a market cap of $319.13 billion, a PE ratio of 54.85, a P/E/G ratio of 3.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average is $336.56 and its two-hundred day moving average is $293.49. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. On average, sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio is currently 26.32%.

Hedge Funds Weigh In On Salesforce

Several large investors have recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter valued at approximately $33,000. Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Annapolis Financial Services LLC grew its position in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRM. Canaccord Genuity Group raised their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets lifted their target price on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Oppenheimer reissued an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.