Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 5,600 Shares

Salesforce, Inc. (NYSE:CRM - Get Free Report) insider Parker Harris sold 5,600 shares of the firm's stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the sale, the insider now directly owns 116,693 shares of the company's stock, valued at approximately $29,193,087.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 11th, Parker Harris sold 2,800 shares of Salesforce stock. The stock was sold at an average price of $240.40, for a total value of $673,120.00.
• On Tuesday, June 4th, Parker Harris sold 2,800 shares of Salesforce stock. The shares were sold at an average price of $235.99, for a total value of $660,772.00.
• On Tuesday, May 28th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $269.26, for a total value of $1,130,892.00.
• On Tuesday, May 21st, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $285.20, for a total value of $1,197,840.00.
• On Tuesday, May 14th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $276.93, for a total value of $1,163,106.00.
• On Tuesday, May 7th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $277.22, for a total value of $1,164,324.00.
• On Tuesday, April 30th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $270.93, for a total value of $1,137,906.00.
• On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $301.75, for a total value of $1,267,350.00.

Salesforce Trading Up 1.7 %

Salesforce stock traded up $4.25 during trading on Friday, hitting $257.10. The company's stock had a trading volume of 11,972,195 shares, compared to its average volume of 6,985,788. The stock has a market capitalization of $249.13 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 2.13 and a beta of 1.25. The stock's fifty day moving average is $259.79 and its 200 day moving average is $276.20. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce's payout ratio is currently 7.19%.

Institutional Investors Weigh In On Salesforce

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider's stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares during the period. Capital World Investors grew its position in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider's stock valued at $5,147,402,000 after acquiring an additional 457,463 shares during the period. Fisher Asset Management LLC grew its position in Salesforce by 5.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider's stock valued at $3,926,323,000 after acquiring an additional 752,566 shares during the period. Capital Research Global Investors grew its position in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider's stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. Finally, Capital International Investors grew its position in Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider's stock valued at $4,251,592,000 after acquiring an additional 407,834 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wolfe Research restated an "outperform" rating and set a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. UBS Group lowered their target price on Salesforce from $310.00 to $250.00 and set a "neutral" rating on the stock in a research note on Thursday, May 30th. Stifel Nicolaus lowered their target price on Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, May 30th. Truist Financial reiterated a "buy" rating and issued a $300.00 target price (down from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. Finally, Argus lifted their price target on Salesforce from $290.00 to $354.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $292.79.

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.

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