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

Salesforce, Inc. (NYSE:CRM) CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This trade represents a 14.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Salesforce Price Performance

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRM. Stephens started coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Morgan Stanley lifted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. BMO Capital Markets restated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRM. United Bank grew its stake in shares of Salesforce by 1.1% during the third quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the last quarter. Penserra Capital Management LLC boosted its position in Salesforce by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 8,825 shares of the CRM provider’s stock valued at $2,415,000 after buying an additional 105 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Salesforce by 38.6% in the 3rd quarter. Larson Financial Group LLC now owns 4,269 shares of the CRM provider’s stock valued at $1,168,000 after buying an additional 1,188 shares during the period. Cahill Financial Advisors Inc. raised its position in shares of Salesforce by 26.4% during the third quarter. Cahill Financial Advisors Inc. now owns 1,015 shares of the CRM provider’s stock worth $278,000 after acquiring an additional 212 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after acquiring an additional 314,530 shares during the period. 80.43% of the stock is owned by 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.