Parker Harris sells 4,200 shares of Salesforce, Inc. (NYSE:CRM)

Salesforce, Inc. (NYSE:CRM ​​- Get Your Free Report) Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,932,595.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website.

Parker Harris also recently made the following trades:

• On Friday, August 9th, Parker Harris sold 1,400 shares of Salesforce stock. The stock was sold at an average price of $251.62, for a total value of $352,268.00.
• On Tuesday, August 6th, Parker Harris sold 2,800 shares of Salesforce stock. The stock was 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 shares were sold at an average price of $252.75, for a total value 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 value 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 value of $1,400,952.00.
• On Tuesday, June 11th, Parker Harris sold 2,800 shares of Salesforce stock. The shares were sold at an average price of $240.40, for a total value 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 shares were sold at an average price of $269.26, for a total value of $1,130,892.00.

Salesforce stock up 3.0%

Shares of NYSE:CRM ​​opened at $262.89 on Friday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a 50 day simple moving average of $249.05 and a two hundred day simple moving average of $273.20. The firm has a market cap of $254.74 billion, a PE ratio of 47.28, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11, and a quick ratio of 1.11.

Salesforce (NYSE:CRM ​​- Get your free report) last announced its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. In the same quarter last year, the company earned $1.15 per share. On average, equities analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a $0.40 dividend. This represents a dividend of $1.60 on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Hedge funds influence Salesforce

A number of large investors have recently bought and sold shares of CRM. Chase Investment Counsel Corp grew 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 worth $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC boosted its holdings in Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares in the last quarter. Fox Hill Wealth Management boosted its holdings in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after purchasing an additional 38 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in shares of 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 last quarter. Institutional investors own 80.43% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of equities research analysts have commented on CRM shares. Morgan Stanley cut their price target on Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Robert W. Baird cut their price target on Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. decreased their target price on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Barclays cut their price target on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Sanford C. Bernstein upped their target price on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Moderate Buy” and an average price target of $292.79, according to MarketBeat.

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About Salesforce

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Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together around the world. The company’s services include sales for data storage, lead and progress tracking, opportunity forecasting, analytics and artificial intelligence insights, and delivery of quotes, contracts and invoices; and services that enable companies to deliver reliable and highly personalized customer support at scale.

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