Insider Selling: Salesforce, Inc. (NYSE:CRM) CRO Sells 1,273 Shares of Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CRO Gavin Patterson sold 1,273 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total transaction of $216,957.39. Following the transaction, the executive now owns 16,263 shares of the company’s stock, valued at $2,771,703.09. The transaction was disclosed in a filing with the SEC, which is available through this link.

Gavin Patterson also recently made the following trade(s):

  • On Monday, April 25th, Gavin Patterson sold 536 shares of Salesforce stock. The stock was sold at an average price of $171.68, for a total transaction of $92,020.48.

Shares of NYSE CRM traded up $5.60 during mid-day trading on Thursday, hitting $173.05. The stock had a trading volume of 7,218,586 shares, compared to its average volume of 7,913,803. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Salesforce, Inc. has a 1 year low of $154.55 and a 1 year high of $311.75. The business has a 50 day moving average price of $172.00 and a two-hundred day moving average price of $205.29. The firm has a market cap of $172.18 billion, a P/E ratio of 167.55, a price-to-earnings-growth ratio of 4.57 and a beta of 1.16.

Salesforce (NYSE:CRMGet Rating) last issued its earnings results on Tuesday, May 31st. The CRM provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 2.18 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Mayflower Financial Advisors LLC increased its position in Salesforce by 1.2% during the 4th quarter. Mayflower Financial Advisors LLC now owns 3,794 shares of the CRM provider’s stock valued at $964,000 after purchasing an additional 46 shares during the period. Insight Wealth Strategies LLC increased its position in Salesforce by 0.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 9,652 shares of the CRM provider’s stock valued at $2,453,000 after purchasing an additional 47 shares during the period. Texas Capital Bank Wealth Management Services Inc. increased its position in Salesforce by 4.1% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc. now owns 1,204 shares of the CRM provider’s stock valued at $306,000 after purchasing an additional 47 shares during the period. Bedel Financial Consulting Inc. increased its position in Salesforce by 7.0% during the 4th quarter. Bedel Financial Consulting Inc. now owns 738 shares of the CRM provider’s stock valued at $188,000 after purchasing an additional 48 shares during the period. Finally, Carret Asset Management LLC increased its position in Salesforce by 2.3% during the 4th quarter. Carret Asset Management LLC now owns 2,092 shares of the CRM provider’s stock valued at $532,000 after purchasing an additional 48 shares during the period. 77.75% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on CRM. Loop Capital decreased their price target on shares of Salesforce from $225.00 to $175.00 and set a “hold” rating for the company in a research report on Thursday, June 2nd. Royal Bank of Canada set a $325.00 price target on shares of Salesforce in a research report on Wednesday, March 2nd. Jefferies Financial Group decreased their price objective on shares of Salesforce from $330.00 to $260.00 in a research report on Monday, May 23rd. Oppenheimer reiterated a “buy” rating and set a $205.00 price objective on shares of Salesforce in a research report on Friday, June 17th. Finally, BMO Capital Markets decreased their price objective on shares of Salesforce from $260.00 to $225.00 in a research report on Wednesday, June 1st. Four analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $272.50.

About Salesforce (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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