Insider Selling: Salesforce, Inc. (NYSE:CRM) CRO Sells 1,273 Shares of Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CRO Gavin Patterson sold 1,273 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $216,957.39. Following the transaction, the executive now owns 16,263 shares of the company’s stock, valued at $2,771,703.09. The transaction was disclosed in a filing with the SEC, which is available through this link.

Gavin Patterson also recently made the following trade(s):

  • On Monday, April 25th, Gavin Patterson sold 536 shares of Salesforce stock. The stock was sold at an average price of $171.68, for a total transaction of $92,020.48.

Shares of CRM traded up $5.60 during mid-day trading on Thursday, reaching $173.05. The company’s stock had a trading volume of 7,218,586 shares, compared to its average volume of 7,913,803. The stock has a market cap of $172.18 billion, a PE ratio of 167.55, a P/E/G ratio of 4.57 and a beta of 1.16. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 52 week low of $154.55 and a 52 week high of $311.75. The company’s fifty day moving average price is $172.00 and its two-hundred day moving average price is $205.29.

Salesforce (NYSE:CRMGet Rating) last announced its quarterly earnings data on Tuesday, May 31st. The CRM provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same period in the previous year, the business posted $0.74 EPS. The business’s quarterly revenue was up 24.3% on a year-over-year basis. Research analysts anticipate that Salesforce, Inc. will post 2.18 EPS for the current year.

Several brokerages have issued reports on CRM. William Blair restated an “outperform” rating on shares of Salesforce in a research report on Wednesday, June 1st. Barclays upped their price target on shares of Salesforce from $208.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, June 1st. UBS Group decreased their price target on shares of Salesforce from $225.00 to $185.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Oppenheimer reiterated a “buy” rating and set a $205.00 price objective on shares of Salesforce in a research report on Friday, June 17th. Finally, Morgan Stanley decreased their price objective on shares of Salesforce from $360.00 to $291.00 in a research report on Monday, May 16th. Four analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $272.50.

Several hedge funds and other institutional investors have recently modified their holdings of CRM. Vectors Research Management LLC increased its stake in shares of Salesforce by 128.9% in the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock worth $26,000 after buying an additional 58 shares during the period. Retirement Planning Co of New England Inc. purchased a new position in Salesforce during the 4th quarter valued at $27,000. MCF Advisors LLC purchased a new position in Salesforce during the 1st quarter valued at $30,000. FSC Wealth Advisors LLC increased its position in Salesforce by 1,350.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock valued at $31,000 after purchasing an additional 135 shares during the period. Finally, Financial Enhancement Group LLC increased its position in Salesforce by 589.5% during the 4th quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 112 shares during the period. 77.75% of the stock is currently owned by institutional investors.

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.

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