Salesforce, Inc. (NYSE:CRM - Get Free Report) insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the completion of the sale, the insider now owns 105,837 shares of the company's stock, valued at $31,936,314.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Parker Harris also recently made the following trade(s):
- On Tuesday, March 26th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $306.50, for a total transaction of $1,287,300.00.
- On Tuesday, March 19th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $299.60, for a total transaction of $1,258,320.00.
Salesforce Stock Performance
Salesforce stock opened at $299.62 on Thursday. The stock has a 50-day simple moving average of $298.34 and a 200 day simple moving average of $258.08. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $187.31 and a 12-month high of $318.71. The stock has a market capitalization of $290.63 billion, a price-to-earnings ratio of 71.34, a P/E/G ratio of 2.32 and a beta of 1.28.
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Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Salesforce Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, March 13th. Salesforce's dividend payout ratio (DPR) is currently 9.52%.
Institutional Trading of Salesforce
Several large investors have recently modified their holdings of CRM. Fairfield Bush & CO. boosted its stake in Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider's stock valued at $949,000 after buying an additional 357 shares in the last quarter. Roundview Capital LLC lifted its stake in Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider's stock valued at $5,104,000 after buying an additional 3,809 shares during the period. Covestor Ltd lifted its stake in Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider's stock valued at $132,000 after buying an additional 186 shares during the period. Ergoteles LLC acquired a new position in Salesforce in the first quarter valued at approximately $455,000. Finally, Mackenzie Financial Corp raised its position in shares of Salesforce by 21.3% during the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider's stock worth $182,797,000 after purchasing an additional 151,440 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on CRM shares. Oppenheimer upped their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Monday, February 12th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $350.00 target price on shares of Salesforce in a research report on Wednesday, April 3rd. Citigroup increased their price target on shares of Salesforce from $265.00 to $325.00 and gave the stock a "neutral" rating in a research report on Monday, February 26th. UBS Group increased their price target on shares of Salesforce from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Friday, February 16th. Finally, Mizuho restated a "buy" rating and set a $345.00 target price (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $304.97.
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About Salesforce
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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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