Salesforce, Inc. (NYSE:CRM) CEO Sells $1,120,391.46 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Brian Millham sold 3,937 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the transaction, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Salesforce Stock Performance

Shares of CRM stock opened at $280.93 on Thursday. The stock’s fifty day simple moving average is $311.35 and its 200-day simple moving average is $310.74. The company has a market capitalization of $269.97 billion, a price-to-earnings ratio of 46.21, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new position in Salesforce during the fourth quarter valued at approximately $25,000. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter valued at $27,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in Salesforce during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRM. Macquarie reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Stephens started coverage on Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price target on the stock. Wells Fargo & Company lowered their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, DA Davidson cut their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued 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 an average target price 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.