Brian Millham Sells 3,937 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRM) CEO Brian Millham sold 3,937 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. The trade was a 41.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Brian Millham also recently made the following trade(s):

• On Thursday, January 23rd, Brian Millham sold 708 shares of Salesforce stock. The shares were sold at an average price of $332.28, for a total value of $235,254.24.

Salesforce Trading Up 0.9 %

NYSE:CRM traded up $2.63 during mid-day trading on Tuesday, hitting $288.59. 4,300,746 shares of the stock traded hands, compared to its average volume of 6,386,093. The firm’s 50 day moving average is $312.85 and its two-hundred day moving average is $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. The stock has a market capitalization of $277.33 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Analyst Ratings Changes

CRM has been the subject of several recent research reports. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Oppenheimer dropped their price target on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Robert W. Baird reduced their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Bank of America cut their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $362.74.

Institutional Investors Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Norges Bank purchased a new stake in Salesforce in the 4th quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after acquiring an additional 3,841,521 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $1,173,564,000. Invesco Ltd. increased its stake in Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. Finally, Northern Trust Corp grew its stake in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.