Salesforce, Inc. (NYSE:CRM) CFO Sells $1,725,518.77 in Stock

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Salesforce Stock Performance

Shares of CRM stock opened at $279.07 on Friday. The firm has a market capitalization of $268.19 billion, a price-to-earnings ratio of 45.90, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a 50 day moving average price of $314.23 and a 200 day moving average price of $309.29. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce in the 4th quarter worth about $25,000. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new position in Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRM. DA Davidson dropped their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus cut their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Northland Securities reiterated an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Guggenheim reissued a “sell” rating and set a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

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.