Salesforce, Inc. (NYSE:CRM) CAO Sells $543,263.22 in Stock

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

Salesforce Trading Up 0.9 %

NYSE CRM traded up $2.63 on Tuesday, hitting $288.59. 4,300,746 shares of the company were exchanged, compared to its average volume of 6,386,093. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $277.33 billion, a P/E ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company’s 50 day moving average price is $312.85 and its 200-day moving average price is $310.64.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $27,000. Arlington Trust Co LLC raised 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 during the period. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth about $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Bank of America lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. DA Davidson cut their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Morgan Stanley upped their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus 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.