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 Salesforce stock in a transaction on Monday, March 17th. The stock was 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 $12,967,047.50. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Salesforce Price Performance

Shares of CRM traded down $1.77 during midday trading on Tuesday, reaching $278.98. The stock had a trading volume of 5,881,485 shares, compared to its average volume of 6,354,436. The company’s 50-day moving average is $317.05 and its 200 day moving average is $309.53. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month 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. The company has a market capitalization of $268.10 billion, a price-to-earnings ratio of 45.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRM. Piper Sandler decreased their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Citigroup reissued a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Guggenheim reissued a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $364.14.

Hedge Funds Weigh In On Salesforce

Hedge funds and other institutional investors have recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its holdings in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in Salesforce during the 3rd quarter valued at about $1,215,000. Athena Investment Management purchased a new stake in Salesforce during the 4th quarter valued at about $236,000. Aljian Capital Management LLC boosted its holdings in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. Finally, Highland Capital Management LLC purchased a new stake in Salesforce during the 4th quarter valued at about $4,321,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.