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

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

Salesforce Stock Performance

Salesforce stock opened at $279.44 on Thursday. The stock has a fifty day moving average price of $315.19 and a 200 day moving average price of $309.50. 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 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 P/E ratio of 45.96, a PEG ratio of 2.58 and a beta of 1.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRM. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group increased their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Redburn Atlantic assumed coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Northland Securities restated an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $362.74.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bernard Wealth Management Corp. purchased a new position in Salesforce during the fourth quarter worth approximately $25,000. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter worth $27,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Finally, Compass Financial Services Inc acquired a new stake in Salesforce during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.