Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 3,273 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,273 shares of Salesforce stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $931,430.34. Following the sale, the insider now directly owns 125,146 shares of the company’s stock, valued at $35,614,048.68. This trade represents a 2.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, January 23rd, Parker Harris sold 652 shares of Salesforce stock. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56.

Salesforce Stock Down 1.1 %

Shares of NYSE CRM opened at $277.88 on Friday. The stock has a market cap of $267.04 billion, a PE ratio of 45.70, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a 50-day moving average of $310.49 and a 200 day moving average of $310.51.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.60%. Salesforce’s dividend payout ratio is 25.16%.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Truist Financial reiterated a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Robert W. Baird lowered their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Bank of America dropped their target price on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Hedge Funds Weigh In On Salesforce

A number of institutional investors have recently added to or reduced their stakes in CRM. United Bank raised its holdings in shares of Salesforce by 1.1% during the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock worth $1,999,000 after acquiring an additional 76 shares during the period. Penserra Capital Management LLC raised its stake in Salesforce by 1.2% during the third quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider’s stock worth $2,415,000 after purchasing an additional 105 shares during the period. Larson Financial Group LLC boosted its holdings in Salesforce by 38.6% in the 3rd quarter. Larson Financial Group LLC now owns 4,269 shares of the CRM provider’s stock valued at $1,168,000 after purchasing an additional 1,188 shares during the last quarter. Cahill Financial Advisors Inc. grew its stake in shares of Salesforce by 26.4% in the 3rd quarter. Cahill Financial Advisors Inc. now owns 1,015 shares of the CRM provider’s stock valued at $278,000 after buying an additional 212 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.