Insider Selling: Salesforce, Inc. (NYSE:CRM) Insider Sells 3,273 Shares of Stock

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,273 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $931,430.34. Following the transaction, the insider now directly owns 125,146 shares in the company, valued at approximately $35,614,048.68. This represents a 2.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, January 23rd, Parker Harris sold 652 shares of Salesforce stock. The shares were sold at an average price of $332.28, for a total value of $216,646.56.

Salesforce Stock Performance

CRM stock traded up $2.63 during trading on Tuesday, reaching $288.59. The stock had a trading volume of 4,300,746 shares, compared to its average volume of 6,386,093. The stock’s 50 day moving average is $312.85 and its two-hundred day moving average is $310.64. The firm has a market cap of $277.33 billion, a PE ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the fourth quarter worth approximately $25,000. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the third quarter worth about $27,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $27,000. Arlington Trust Co LLC lifted its position in shares of 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 buying an additional 40 shares in the last quarter. Finally, Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter worth approximately $30,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One equities 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.