Parker Harris Sells 4,200 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM - Get Free Report) insider Parker Harris sold 4,200 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the completion of the transaction, the insider now directly owns 118,514 shares in the company, valued at $34,229,213.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Get Salesforce alerts:

MarketBeat Week in Review – 10/14 - 10/18

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

On Tuesday, October 15th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00.
On Tuesday, October 8th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00.
On Tuesday, October 1st, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $271.75, for a total value of $1,141,350.00.
On Monday, September 23rd, Parker Harris sold 942 shares of Salesforce stock. The shares were sold at an average price of $264.78, for a total value of $249,422.76.
On Tuesday, September 17th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00.
On Tuesday, September 3rd, Parker Harris sold 3,528 shares of Salesforce stock. The stock was sold at an average price of $250.59, for a total value of $884,081.52.
On Tuesday, August 27th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00.
On Tuesday, August 20th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00.
On Tuesday, August 13th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00.
On Friday, August 9th, Parker Harris sold 1,400 shares of Salesforce stock. The shares were sold at an average price of $251.62, for a total value of $352,268.00.

Salesforce Stock Performance

Shares of Salesforce stock traded down $3.05 during mid-day trading on Tuesday, hitting $288.24. 3,099,857 shares of the stock were exchanged, compared to its average volume of 6,379,897. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a 50-day simple moving average of $268.12 and a 200 day simple moving average of $263.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $279.30 billion, a P/E ratio of 51.84, a P/E/G ratio of 2.61 and a beta of 1.30.

Ad WealthPress

$25,000 into $109,616 in two months?

Today I want to show you how our research shows you could’ve grown a $25,000 account into $109,616.12 within the last TWO months. You see, former multi-million dollar hedge fund manager Roger Scott spent the better half of 2023 developing what might be the most advanced trading tool that exists… It’s a revolutionary software system that tracks the moves of institutional investors…. in real time…

Go here to watch the most recent trading workshop video at no charge.

Salesforce: Have You Seen The Latest Price Target Upgrade?

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analysts' expectations of $9.22 billion. During the same quarter last year, the firm earned $1.63 EPS. The company's quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce's payout ratio is currently 28.78%.

Institutional Investors Weigh In On Salesforce

Salesforce Stock Gets a Wall Street Boost, Cloud Businesses Back?

Several large investors have recently modified their holdings of the stock. Global Assets Advisory LLC purchased a new position in Salesforce in the 1st quarter valued at approximately $8,557,000. Mechanics Bank Trust Department purchased a new position in Salesforce in the 1st quarter valued at approximately $230,000. Fermata Advisors LLC purchased a new position in Salesforce in the 1st quarter valued at approximately $418,000. Hoxton Planning & Management LLC purchased a new position in Salesforce in the 1st quarter valued at approximately $220,000. Finally, Exchange Bank purchased a new position in Salesforce in the 1st quarter valued at approximately $229,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Needham & Company LLC restated a "buy" rating and issued a $345.00 price objective on shares of Salesforce in a report on Friday, September 20th. Northland Capmk upgraded Salesforce from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 2nd. Wedbush increased their price target on Salesforce from $315.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, September 27th. Canaccord Genuity Group increased their price target on Salesforce from $300.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Finally, BMO Capital Markets increased their price target on Salesforce from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $311.66.

Check Out Our Latest Stock Analysis on CRM

Salesforce Company Profile

(Get Free Report)

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.

Should you invest $1,000 in Salesforce right now?

Before you consider Salesforce, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Salesforce wasn't on the list.

While Salesforce currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report