Insider Selling: Salesforce, Inc. (NYSE:CRM) CFO Sells 6,221 Shares of Stock

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

Salesforce Stock Performance

Shares of NYSE CRM opened at $279.07 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market cap of $268.19 billion, a P/E ratio of 45.90, a PEG ratio of 2.58 and a beta of 1.35. The stock has a fifty day moving average price of $314.23 and a two-hundred day moving average price of $309.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stephens began coverage on Salesforce in a report on Wednesday. They issued an “equal weight” rating and a $311.00 price target for the company. Finally, The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Institutional Inflows and Outflows

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

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.