Salesforce, Inc. (NYSE:CRM) Insider Sells $1,287,300.00 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $306.50, for a total value of $1,287,300.00. Following the transaction, the insider now owns 105,837 shares in the company, valued at $32,439,040.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, March 19th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00.

Salesforce Stock Performance

CRM opened at $301.41 on Thursday. The firm has a market cap of $292.37 billion, a PE ratio of 71.76, a P/E/G ratio of 2.35 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $293.59 and a 200-day simple moving average of $251.75. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. Salesforce’s dividend payout ratio is 9.52%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Needham & Company LLC upped their price objective on Salesforce from $275.00 to $345.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Citigroup boosted their target price on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Evercore ISI boosted their target price on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Mizuho reiterated a “buy” rating and set a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $304.32.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently bought and sold shares of CRM. Fairfield Bush & CO. raised its position in Salesforce by 8.7% in the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after purchasing an additional 357 shares during the last quarter. Roundview Capital LLC raised its position in shares of Salesforce by 18.8% during the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after acquiring an additional 3,809 shares during the last quarter. Covestor Ltd raised its position in shares of Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after acquiring an additional 186 shares during the last quarter. Ergoteles LLC bought a new stake in shares of Salesforce during the 1st quarter valued at $455,000. Finally, Mackenzie Financial Corp raised its position in shares of Salesforce by 21.3% during the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after acquiring an additional 151,440 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

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.