Salesforce, Inc. (NYSE:CRM) Insider Sells $931,430.34 in Stock

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

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 Price Performance

Shares of CRM opened at $277.88 on Friday. The company has a 50 day moving average of $310.49 and a two-hundred day moving average of $310.51. The company has a market cap of $267.04 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed 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 boost 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 (DPR) is presently 25.16%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. United Bank increased its holdings in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after acquiring an additional 76 shares in the last quarter. Penserra Capital Management LLC grew its position in Salesforce by 1.2% during the 3rd 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 last quarter. Larson Financial Group LLC grew its position in Salesforce by 38.6% during the 3rd quarter. Larson Financial Group LLC now owns 4,269 shares of the CRM provider’s stock worth $1,168,000 after purchasing an additional 1,188 shares during the last quarter. Cahill Financial Advisors Inc. increased its stake in Salesforce by 26.4% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 1,015 shares of the CRM provider’s stock valued at $278,000 after purchasing an additional 212 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Salesforce by 2.6% in the third 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. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Macquarie reissued a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Morgan Stanley upped their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Barclays lifted their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $362.74.

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.