Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 973 Shares

Salesforce, Inc. (NYSE:CRMGet Rating) insider Parker Harris sold 973 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $170.43, for a total value of $165,828.39. Following the transaction, the insider now directly owns 93,103 shares of the company’s stock, valued at $15,867,544.29. 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 Monday, April 18th, Parker Harris sold 1,712 shares of Salesforce stock. The shares were sold at an average price of $188.16, for a total value of $322,129.92.

Shares of CRM stock traded up $5.60 during trading hours 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 company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a fifty-two week low of $154.55 and a fifty-two week high of $311.75. The company has a market capitalization of $172.18 billion, a price-to-earnings ratio of 167.55, a PEG ratio of 4.57 and a beta of 1.16. The firm’s 50 day simple moving average is $172.00 and its 200-day simple moving average is $205.29.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Salesforce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 77,620,937 shares of the CRM provider’s stock valued at $16,480,478,000 after acquiring an additional 1,458,042 shares in the last quarter. State Street Corp boosted its holdings in shares of Salesforce by 1.0% during the 1st quarter. State Street Corp now owns 44,687,516 shares of the CRM provider’s stock valued at $9,488,053,000 after acquiring an additional 433,659 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Salesforce by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 15,448,821 shares of the CRM provider’s stock worth $3,914,460,000 after buying an additional 564,493 shares during the period. Fisher Asset Management LLC grew its position in shares of Salesforce by 4.6% in the 1st quarter. Fisher Asset Management LLC now owns 15,234,715 shares of the CRM provider’s stock valued at $3,234,635,000 after buying an additional 669,616 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Salesforce by 42.2% in the 4th quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock valued at $3,509,260,000 after buying an additional 4,096,666 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors.

Several brokerages recently commented on CRM. OTR Global cut Salesforce to a “positive” rating in a research report on Thursday, May 12th. Cowen dropped their price objective on Salesforce from $285.00 to $225.00 in a research note on Monday, May 23rd. Stifel Nicolaus dropped their price objective on Salesforce from $300.00 to $250.00 in a research note on Wednesday, June 1st. BMO Capital Markets dropped their price objective on Salesforce from $260.00 to $225.00 in a research note on Wednesday, June 1st. Finally, Bank of America dropped their price objective on Salesforce from $360.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Four research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $272.50.

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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