Parker Harris Sells 1,400 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 1,400 shares of Salesforce stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,585,731.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, August 6th, Parker Harris sold 2,800 shares of Salesforce stock. The shares were sold at an average price of $241.22, for a total value of $675,416.00.
• On Tuesday, July 30th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $257.28, for a total value of $1,080,576.00.
• On Tuesday, July 16th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00.
• On Tuesday, July 9th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00.
• On Tuesday, July 2nd, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $256.24, for a total transaction of $1,076,208.00.
• On Thursday, June 27th, Parker Harris sold 5,600 shares of Salesforce stock. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00.
• 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 transaction 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 stock was 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.

Salesforce Price Performance

Shares of NYSE CRM opened at $254.52 on Wednesday. The stock has a market cap of $246.63 billion, a price-to-earnings ratio of 45.78, a PEG ratio of 2.22 and a beta of 1.29. 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, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm’s 50-day simple moving average is $248.27 and its 200 day simple moving average is $273.40.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the company earned $1.15 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Barclays reduced their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Evercore ISI lowered their target price on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Chase Investment Counsel Corp increased its position in shares of Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after buying an additional 36 shares during the last quarter. Opes Wealth Management LLC grew its position in Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares during the period. Fox Hill Wealth Management increased its holdings in Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after buying an additional 38 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its position in Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors.

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.