Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver Sells 6,221 Shares

Salesforce, Inc. (NYSE:CRM) CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Salesforce Trading Up 0.3 %

Salesforce stock opened at $279.44 on Thursday. The firm has a 50-day moving average price of $315.19 and a two-hundred day moving average price of $309.50. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market capitalization of $268.54 billion, a price-to-earnings ratio of 45.96, 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CRM shares. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research report on Wednesday. Jefferies Financial Group upped their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Macquarie reduced their target price on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Bank of America lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Stephens started coverage on shares of Salesforce in a report on Wednesday. They issued an “equal weight” rating and a $311.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Institutional Trading of Salesforce

Hedge funds have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new position in Salesforce during the 4th quarter valued at about $25,000. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new position in Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC increased 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 purchasing an additional 40 shares during the period. Finally, Compass Financial Services Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at $30,000. Institutional investors 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.