Parker Harris Sells 2,800 Shares of Salesforce, Inc. (NYSE:CRM) Stock (2024)

Posted by ABMN Staff on Jun 7th, 2024

Salesforce, Inc. (NYSE:CRM – Get Free Report) insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $235.99, for a total value of $660,772.00. Following the transaction, the insider now owns 115,762 shares of the company’s stock, valued at $27,318,674.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

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 transaction of $1,130,892.00.
On Tuesday, May 21st, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $285.20, for a total transaction of $1,197,840.00.
On Tuesday, May 14th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $276.93, for a total transaction of $1,163,106.00.
On Tuesday, May 7th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $277.22, for a total value of $1,164,324.00.
On Tuesday, April 30th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $270.93, for a total value of $1,137,906.00.
On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $301.75, for a total value of $1,267,350.00.
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 shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00.

Salesforce Stock Up 2.6 %

Shares of CRM stock opened at $242.76 on Friday. The company’s fifty day simple moving average is $276.53 and its two-hundred day simple moving average is $276.05. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The stock has a market cap of $235.23 billion, a P/E ratio of 43.66, a PEG ratio of 2.06 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. Analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. KeyCorp started coverage on Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Macquarie cut their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Piper Sandler reduced their price target on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Read Our Latest Stock Analysis on Salesforce

Institutional Investors Weigh In On Salesforce

Large investors have recently bought and sold shares of the business. Marks Group Wealth Management Inc grew its stake in shares of Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after buying an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. lifted its holdings in shares of Salesforce by 1.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after acquiring an additional 105 shares during the last quarter. Parnassus Investments LLC grew its position in Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares in the last quarter. TD Asset Management Inc increased its stake in Salesforce by 32.6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares during the last quarter. Finally, Pure Financial Advisors LLC purchased a new stake in Salesforce during the fourth quarter valued at approximately $214,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

(Get Free Report)

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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