Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy Sells 1,909 Shares

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 1,909 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 $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This trade 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 %

Shares of NYSE CRM opened at $288.59 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization 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 twelve month low of $212.00 and a twelve month high of $369.00. The stock has a fifty day simple moving average of $312.15 and a 200-day simple moving average of $310.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter worth $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the 4th quarter valued at $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 worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter worth about $30,000. Finally, Asset Planning Inc purchased a new position in Salesforce during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Finally, Citigroup reissued a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. One research 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 stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average 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.