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 transaction of $931,430.34. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $332.28, for a total value of $216,646.56.

Salesforce Stock Performance

Shares of CRM stock opened at $280.93 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The business’s 50 day moving average is $311.35 and its two-hundred day moving average is $310.74. The company has a market capitalization of $269.97 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.58 and a beta of 1.35.

Analyst Ratings Changes

CRM has been the topic of a number of research analyst reports. Scotiabank lowered their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Royal Bank of Canada boosted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Robert W. Baird cut their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group decreased their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley increased their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $362.74.

Institutional Inflows and Outflows

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

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.