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

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,273 shares of the firm’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 transaction of $931,430.34. Following the sale, the insider now owns 125,146 shares in the company, valued at approximately $35,614,048.68. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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

CRM opened at $288.59 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a 50-day moving average of $312.15 and a 200-day moving average of $310.95. The company has a market capitalization of $277.33 billion, a P/E ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35.

Institutional Trading of Salesforce

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings 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 valued at $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. Geode Capital Management LLC increased its stake in Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after purchasing an additional 175,035 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the period. Northern Trust Corp boosted its holdings in shares of Salesforce by 18.3% in 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 buying an additional 1,736,667 shares during the period. Finally, Norges Bank acquired a new stake in Salesforce during the fourth quarter worth about $3,599,867,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Oppenheimer cut their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Barclays upped their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

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.