Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 895 Shares of Stock

Salesforce, Inc. (NYSE:CRMGet Rating) insider Srinivas Tallapragada sold 895 shares of the stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $171.68, for a total transaction of $153,653.60. Following the transaction, the insider now directly owns 47,309 shares of the company’s stock, valued at approximately $8,122,009.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Srinivas Tallapragada also recently made the following trade(s):

  • On Thursday, April 7th, Srinivas Tallapragada sold 20,000 shares of Salesforce stock. The stock was sold at an average price of $200.00, for a total value of $4,000,000.00.
  • On Wednesday, March 23rd, Srinivas Tallapragada sold 2,647 shares of Salesforce stock. The shares were sold at an average price of $210.92, for a total transaction of $558,305.24.
  • On Monday, March 7th, Srinivas Tallapragada sold 20,000 shares of Salesforce stock. The stock was sold at an average price of $203.57, for a total transaction of $4,071,400.00.
  • On Monday, February 7th, Srinivas Tallapragada sold 20,000 shares of Salesforce stock. The shares were sold at an average price of $220.17, for a total value of $4,403,400.00.

NYSE CRM traded up $3.14 on Monday, reaching $174.57. The company had a trading volume of 7,932,726 shares, compared to its average volume of 7,314,273. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day moving average of $201.95 and a two-hundred day moving average of $240.62. Salesforce, Inc. has a fifty-two week low of $169.23 and a fifty-two week high of $311.75. The firm has a market cap of $172.82 billion, a price-to-earnings ratio of 116.38, a P/E/G ratio of 5.05 and a beta of 1.10.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.12. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. The business’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, research analysts predict that Salesforce, Inc. will post 2.1 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in CRM. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Salesforce in the 3rd quarter valued at about $6,789,000. Voya Investment Management LLC raised its holdings in Salesforce by 1.0% in the 3rd quarter. Voya Investment Management LLC now owns 372,747 shares of the CRM provider’s stock worth $101,097,000 after purchasing an additional 3,858 shares in the last quarter. Candlestick Capital Management LP raised its holdings in Salesforce by 719.0% in the 3rd quarter. Candlestick Capital Management LP now owns 203,204 shares of the CRM provider’s stock worth $55,113,000 after purchasing an additional 178,392 shares in the last quarter. Trust Co. of Vermont raised its holdings in Salesforce by 1.6% in the 4th quarter. Trust Co. of Vermont now owns 34,489 shares of the CRM provider’s stock worth $8,765,000 after purchasing an additional 528 shares in the last quarter. Finally, Veritable L.P. raised its holdings in Salesforce by 2.9% in the 3rd quarter. Veritable L.P. now owns 17,026 shares of the CRM provider’s stock worth $4,618,000 after purchasing an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 77.16% of the company’s stock.

CRM has been the topic of a number of analyst reports. Robert W. Baird lowered their price objective on shares of Salesforce from $315.00 to $300.00 in a research report on Wednesday, March 2nd. Raymond James dropped their price objective on Salesforce from $340.00 to $300.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 2nd. Zacks Investment Research cut shares of Salesforce from a “strong-buy” rating to a “hold” rating and set a $244.00 target price for the company. in a research report on Tuesday, February 1st. KeyCorp reduced their price target on Salesforce from $281.00 to $223.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Canaccord Genuity Group cut their target price on Salesforce from $315.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. Seven research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $299.50.

About Salesforce (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

Further Reading

Insider Buying and Selling by Quarter for Salesforce (NYSE:CRM)

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