Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 652 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 652 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The sale 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 Monday, December 23rd, Parker Harris sold 942 shares of Salesforce stock. The stock was 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 shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80.
• On Tuesday, October 29th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00.

Salesforce Stock Performance

NYSE CRM traded up $2.13 on Thursday, reaching $334.75. The stock had a trading volume of 4,351,873 shares, compared to its average volume of 5,399,249. 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 company has a market cap of $320.36 billion, a P/E ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. The firm has a fifty day moving average of $336.50 and a two-hundred day moving average of $293.20. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders 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 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Trading of Salesforce

A number of institutional investors have recently modified their holdings of CRM. Gabelli Funds LLC boosted its position in shares of Salesforce by 11.9% during the 2nd quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock worth $618,000 after acquiring an additional 255 shares in the last quarter. Sfmg LLC raised its stake in shares of Salesforce by 24.9% during the second quarter. Sfmg LLC now owns 23,264 shares of the CRM provider’s stock valued at $5,981,000 after acquiring an additional 4,635 shares during the last quarter. Insigneo Advisory Services LLC lifted its stake in shares of Salesforce by 403.4% in the second quarter. Insigneo Advisory Services LLC now owns 11,836 shares of the CRM provider’s stock worth $2,829,000 after acquiring an additional 9,485 shares during the period. Toronto Dominion Bank boosted its position in Salesforce by 16.1% during the second quarter. Toronto Dominion Bank now owns 736,459 shares of the CRM provider’s stock valued at $189,344,000 after acquiring an additional 102,358 shares during the last quarter. Finally, Unisphere Establishment grew its position in shares of Salesforce by 13.9% during the 2nd quarter. Unisphere Establishment now owns 559,000 shares of the CRM provider’s stock worth $143,719,000 after buying an additional 68,250 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent analyst reports. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Loop Capital lifted their price target on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.