Parker Harris Sells 134,662 Shares of Salesforce (NYSE:CRM) Stock

Salesforce Inc. (NYSE:CRM) insider Parker Harris sold 134,662 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total value of $31,605,171.40. Following the transaction, the insider directly owned 139,767 shares in the company, valued at $32,803,314.90. The trade was a 49.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Salesforce Trading Up 3.9%

Shares of NYSE CRM opened at $247.92 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a one year low of $221.96 and a one year high of $367.15. The business has a 50-day moving average price of $242.92 and a two-hundred day moving average price of $253.07. The firm has a market capitalization of $236.02 billion, a PE ratio of 33.10, a PEG ratio of 1.87 and a beta of 1.25.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.39. The company had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $10.27 billion. Salesforce had a return on equity of 14.35% and a net margin of 17.91%.The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Salesforce

Large investors have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. increased its position in Salesforce by 4.0% in the 2nd quarter. Avantax Advisory Services Inc. now owns 87,331 shares of the CRM provider’s stock worth $23,814,000 after buying an additional 3,387 shares during the period. Advyzon Investment Management LLC grew its stake in shares of Salesforce by 57.4% in the second quarter. Advyzon Investment Management LLC now owns 1,884 shares of the CRM provider’s stock worth $514,000 after acquiring an additional 687 shares during the last quarter. Atalanta Sosnoff Capital LLC increased its position in Salesforce by 8.5% during the second quarter. Atalanta Sosnoff Capital LLC now owns 206,614 shares of the CRM provider’s stock worth $56,342,000 after acquiring an additional 16,176 shares during the period. Achmea Investment Management B.V. raised its stake in Salesforce by 9.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 148,254 shares of the CRM provider’s stock valued at $40,427,000 after purchasing an additional 12,544 shares during the last quarter. Finally, Tableaux LLC acquired a new position in Salesforce during the 2nd quarter valued at $40,904,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CRM shares. Wells Fargo & Company decreased their target price on shares of Salesforce from $275.00 to $265.00 and set an “equal weight” rating for the company in a research note on Thursday, September 4th. Guggenheim reissued a “neutral” rating on shares of Salesforce in a research report on Thursday. Mizuho dropped their target price on Salesforce from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Monday, November 17th. Stifel Nicolaus reduced their price target on Salesforce from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Finally, BMO Capital Markets lowered their price target on Salesforce from $280.00 to $275.00 and set an “outperform” rating for the company in a research note on Thursday. Twenty-nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.27.

Salesforce Company Profile

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.