Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 3,273 Shares

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,273 shares of the business’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 value of $931,430.34. Following the transaction, the insider now owns 125,146 shares in the company, valued at approximately $35,614,048.68. This represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

Salesforce Price Performance

Shares of NYSE CRM opened at $280.93 on Thursday. The stock’s 50-day simple moving average is $311.35 and its 200-day simple moving average is $310.74. 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 $269.97 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. Royal Bank of Canada boosted their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. Finally, The Goldman Sachs Group lifted their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Institutional Trading of Salesforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fire Capital Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at $1,326,000. Fairtree Asset Management Pty Ltd acquired a new position in Salesforce in the fourth quarter valued at $431,000. M1 Capital Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth about $347,000. DSG Capital Advisors LLC acquired a new stake in shares of Salesforce during the fourth quarter worth about $3,237,000. Finally, 111 Capital purchased a new stake in shares of Salesforce in the 4th quarter valued at about $1,808,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.