Insider Selling: Salesforce, Inc. (NYSE:CRM) CAO Sells 1,909 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at $3,218,599.80. The trade was a 14.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Salesforce Stock Up 0.9 %

Shares of NYSE:CRM opened at $288.59 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $277.33 billion, a PE ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm has a fifty day moving average of $312.15 and a 200 day moving average of $310.95. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Institutional Trading of Salesforce

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRM. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.