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

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 directly owns 125,146 shares in the company, valued at $35,614,048.68. The trade was a 2.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 Salesforce stock traded up $2.63 on Tuesday, reaching $288.59. The stock had a trading volume of 4,300,746 shares, compared to its average volume of 6,386,093. The business’s 50 day moving average is $312.85 and its two-hundred day moving average is $310.64. The company has a market cap of $277.33 billion, a P/E ratio of 47.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Hedge Funds Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the fourth quarter worth about $25,000. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter valued at $27,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC grew its position in 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 in the last quarter. Finally, Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter valued at $30,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CRM shares. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Macquarie restated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Finally, Bank of America cut their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price 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.