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

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 1,909 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. The trade was a 14.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Salesforce Stock Down 2.7 %

NYSE CRM opened at $280.93 on Thursday. The business has a fifty day moving average price of $311.35 and a two-hundred day moving average price of $310.74. The stock has a market capitalization of $269.97 billion, a PE ratio of 46.21, a PEG 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. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. Geode Capital Management LLC boosted its position in Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after buying an additional 175,035 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after buying an additional 1,736,667 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Salesforce in the 4th quarter valued at $3,599,867,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. DA Davidson lowered their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Barclays upped their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Loop Capital decreased their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.