Srinivas Tallapragada Sells 10,000 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $215.25, for a total value of $2,152,500.00. Following the transaction, the insider now directly owns 57,443 shares of the company’s stock, valued at $12,364,605.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Srinivas Tallapragada also recently made the following trade(s):

• On Monday, September 11th, Srinivas Tallapragada sold 10,000 shares of Salesforce stock. The stock was sold at an average price of $225.73, for a total value of $2,257,300.00.

Salesforce Price Performance

Shares of NYSE:CRM traded up $0.70 on Tuesday, reaching $215.70. 3,912,695 shares of the company were exchanged, compared to its average volume of 7,004,511. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1-year low of $126.34 and a 1-year high of $238.22. The firm has a market cap of $209.88 billion, a price-to-earnings ratio of 135.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.19. The company has a 50-day moving average of $218.24 and a 200-day moving average of $206.68.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same period last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Salesforce

Several hedge funds have recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Salesforce by 374.1% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock worth $27,000 after acquiring an additional 101 shares during the period. Union Savings Bank purchased a new position in shares of Salesforce during the 2nd quarter worth about $27,000. NewSquare Capital LLC lifted its holdings in shares of Salesforce by 132.8% during the 1st quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 85 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Salesforce by 30.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after acquiring an additional 63 shares during the period. Finally, Live Oak Investment Partners purchased a new position in shares of Salesforce during the 4th quarter worth about $36,000. 77.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on CRM shares. Barclays boosted their target price on Salesforce from $245.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, August 31st. Raymond James upped their price objective on Salesforce from $260.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 31st. Roth Mkm upped their price objective on Salesforce from $242.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, August 31st. HSBC initiated coverage on shares of Salesforce in a report on Friday. They set a “buy” rating and a $267.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price target on shares of Salesforce in a report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $240.59.

About Salesforce

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 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.