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

Salesforce, Inc. (NYSE:CRM) insider Parker Harris sold 3,273 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 value of $931,430.34. Following the sale, the insider now directly owns 125,146 shares in the company, valued at $35,614,048.68. The trade was a 2.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Parker Harris also recently made the following trade(s):

• On Thursday, January 23rd, Parker Harris sold 652 shares of Salesforce stock. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56.

Salesforce Stock Up 0.9 %

Shares of Salesforce stock opened at $288.59 on Wednesday. The firm has a market cap of $277.33 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 2.58 and a beta of 1.35. The stock has a 50-day simple moving average of $312.15 and a 200-day simple moving average of $310.95. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Institutional Trading of Salesforce

A number of institutional investors have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. bought a new stake in Salesforce in the fourth quarter worth $25,000. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the third quarter worth about $27,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth about $27,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% during the 4th 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 last quarter. Finally, Compass Financial Services Inc bought a new position in shares of Salesforce in the 4th quarter valued at approximately $30,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRM. Stifel Nicolaus decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. DA Davidson lowered their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $362.74.

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.