Salesforce, Inc. (NYSE:CRM) Insider Sells $232,337.50 in Stock

Salesforce, Inc. (NYSE:CRM – Get Rating) insider Parker Harris sold 1,250 shares of Salesforce stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $185.87, for a total value of $232,337.50. Following the transaction, the insider now owns 96,795 shares in the company, valued at approximately $17,991,286.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

On Tuesday, March 14th, Parker Harris sold 1,250 shares of Salesforce stock. The stock was sold at an average price of $180.03, for a total value of $225,037.50.
On Tuesday, March 7th, Parker Harris sold 1,250 shares of Salesforce stock. The stock was sold at an average price of $184.99, for a total value of $231,237.50.
On Thursday, March 2nd, Parker Harris sold 7,500 shares of Salesforce stock. The stock was sold at an average price of $188.18, for a total value of $1,411,350.00.

Salesforce Trading Up 1.4 %

NYSE:CRM opened at $190.06 on Friday. The stock has a 50-day simple moving average of $170.42 and a 200-day simple moving average of $154.97. The stock has a market cap of $190.06 billion, a P/E ratio of 905.05, a P/E/G ratio of 2.31 and a beta of 1.21. Salesforce, Inc. has a 1 year low of $126.34 and a 1 year high of $222.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02.

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Salesforce (NYSE:CRM – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.32. The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Salesforce had a return on equity of 4.48% and a net margin of 0.66%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. As a group, analysts anticipate that Salesforce, Inc. will post 4.89 earnings per share for the current fiscal year.

Salesforce announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 1st that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the CRM provider to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays lifted their target price on Salesforce from $195.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, March 2nd. BMO Capital Markets lifted their target price on Salesforce from $185.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. Credit Suisse Group reduced their target price on Salesforce from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Monday, December 5th. Canaccord Genuity Group reduced their target price on Salesforce from $215.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, December 1st. Finally, Robert W. Baird lifted their target price on Salesforce from $150.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $211.24.

Institutional Trading of Salesforce

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Salesforce by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 80,449,523 shares of the CRM provider’s stock valued at $11,571,860,000 after purchasing an additional 1,103,556 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Salesforce by 40.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 46,707,038 shares of the CRM provider’s stock valued at $7,708,529,000 after purchasing an additional 13,483,854 shares during the period. State Street Corp boosted its position in shares of Salesforce by 1.3% in the 3rd quarter. State Street Corp now owns 44,825,733 shares of the CRM provider’s stock valued at $6,447,733,000 after purchasing an additional 585,881 shares during the period. Morgan Stanley boosted its position in shares of Salesforce by 0.8% in the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock valued at $2,519,719,000 after purchasing an additional 149,012 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Salesforce by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 17,416,910 shares of the CRM provider’s stock valued at $2,304,561,000 after purchasing an additional 450,250 shares during the period. 75.83% of the stock is owned by institutional investors and hedge funds.

Salesforce Company Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.