Salesforce, Inc. (NYSE:CRM – Get Rating) insider Parker Harris sold 1,250 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $184.99, for a total transaction of $231,237.50. Following the completion of the transaction, the insider now owns 96,795 shares in the company, valued at approximately $17,906,107.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, March 2nd, Parker Harris sold 7,500 shares of Salesforce stock. The shares were sold at an average price of $188.18, for a total value of $1,411,350.00.

Salesforce Stock Performance

NYSE CRM traded down $0.37 during trading hours on Wednesday, hitting $182.95. The company had a trading volume of 6,741,530 shares, compared to its average volume of 9,633,383. The business has a 50 day moving average of $159.01 and a 200-day moving average of $153.09. The company has a market cap of $182.95 billion, a PE ratio of 872.99, a price-to-earnings-growth ratio of 2.82 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 1.05 and a current ratio of 1.02.

Salesforce (NYSE:CRM – Get Rating) last announced its earnings results on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.32. The firm 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 revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. As a group, equities research analysts expect that Salesforce, Inc. will post 3.88 EPS for the current year.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Salesforce by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 80,449,523 shares of the CRM provider's stock worth $11,571,860,000 after purchasing an additional 1,103,556 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Salesforce by 40.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 46,707,038 shares of the CRM provider's stock worth $7,708,529,000 after buying an additional 13,483,854 shares during the period. State Street Corp grew its holdings in shares of Salesforce by 1.3% during the third quarter. State Street Corp now owns 44,825,733 shares of the CRM provider's stock worth $6,447,733,000 after buying an additional 585,881 shares during the last quarter. Morgan Stanley increased its position in 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 acquiring an additional 149,012 shares during the period. Finally, Geode Capital Management LLC raised its stake in Salesforce by 2.7% during 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 acquiring an additional 450,250 shares during the last quarter. 75.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Cowen raised their price target on shares of Salesforce from $160.00 to $170.00 and gave the company an "outperform" rating in a research report on Tuesday, February 21st. Jefferies Financial Group reduced their price target on Salesforce from $240.00 to $230.00 in a report on Thursday, December 1st. Mizuho raised their price objective on Salesforce from $200.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, March 2nd. Evercore ISI increased their target price on Salesforce from $200.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, March 2nd. Finally, Sanford C. Bernstein lowered shares of Salesforce from a "market perform" rating to an "underperform" rating and cut their price target for the stock from $134.00 to $119.00 in a report on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $211.24.

About Salesforce

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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.

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