Salesforce, Inc. (NYSE:CRM) Insider Sells $1,137,906.00 in Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $270.93, for a total value of $1,137,906.00. Following the transaction, the insider now directly owns 115,762 shares of the company’s stock, valued at $31,363,398.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $301.75, for a total value of $1,267,350.00.
• On Tuesday, March 26th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $306.50, for a total value of $1,287,300.00.
• 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 value of $1,258,320.00.

Salesforce Price Performance

Shares of CRM opened at $272.13 on Friday. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71. The business has a 50-day simple moving average of $294.61 and a two-hundred day simple moving average of $265.72. 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 stock has a market cap of $263.97 billion, a PE ratio of 64.79, a PEG ratio of 2.07 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. Salesforce’s payout ratio is 9.52%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CRM. Citigroup increased their price target on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. raised their price objective on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Mizuho reaffirmed a “buy” rating and issued a $345.00 price objective (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Finally, Oppenheimer raised their price objective on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Institutional Investors Weigh In On Salesforce

Several institutional investors and hedge funds have recently made changes to their positions in CRM. Norges Bank bought a new stake in shares of Salesforce during the 4th quarter valued at about $2,762,331,000. Capital International Investors raised its stake in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the last quarter. Coatue Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Salesforce by 110.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after purchasing an additional 1,780,421 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

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.