Salesforce, Inc. (NYSE:CRM) CEO Brian Millham Sells 3,937 Shares

Salesforce, Inc. (NYSE:CRM) CEO Brian Millham sold 3,937 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the sale, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. This represents a 41.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Brian Millham also recently made the following trade(s):

• On Thursday, January 23rd, Brian Millham sold 708 shares of Salesforce stock. The shares were sold at an average price of $332.28, for a total transaction of $235,254.24.

Salesforce Price Performance

CRM opened at $288.59 on Wednesday. The company has a market capitalization of $277.33 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $312.15 and a 200-day moving average price of $310.95. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. Oppenheimer cut their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Bank of America reduced 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. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upped their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Institutional Investors Weigh In On Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC increased its position in shares of Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after buying an additional 175,035 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after buying an additional 177,321 shares in the last quarter. Northern Trust Corp boosted its position in shares of Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Finally, Norges Bank purchased a new position in Salesforce during the fourth quarter valued at approximately $3,599,867,000. Institutional investors own 80.43% of the company’s stock.

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.