A company insider recently sold 1,250 shares of Salesforce Inc. [CRM]. Should You Sale?


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Salesforce Inc. shares valued at $231,238 were sold by Harris Parker on Mar 07. At $184.99 per share, Harris Parker sold 1,250 shares. The insider’s holdings dropped to 96,795 shares worth approximately $17.71 million following the completion of this transaction.

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Also, Benioff Marc sold 725 shares, netting a total of over 133,482 in proceeds. Following the sale of shares at $184.11 each, the insider now holds 27,753,609 shares.

Before that, Benioff Marc had sold 725 shares from its account. In a trade valued at $135,298, the Chair and CEO traded Salesforce Inc. shares for $186.62 each. Upon closing the transaction, the insider’s holdings decreased to 725 shares, worth approximately $5.08 billion.

As published in a research note from Needham on March 02, 2023, Salesforce Inc. [CRM] has been rated up from a Hold to a Buy and the price target has been revised to $230. This represents a 20.46% premium over Wednesday’s closing price. Analysts at Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in mid January. As of January 18, 2023, DA Davidson has initiated its “Neutral” rating for CRM. Earlier on January 13, 2023, Atlantic Equities downgraded its rating. Their new recommendation was “a Neutral” for CRM stock which previously was a “an Overweight”.

Analyzing CRM Stock Performance

On Wednesday, Salesforce Inc. [NYSE: CRM] plunged -0.20% to $182.95. The stock’s lowest price that day was $181.80, but it reached a high of $184.90 in the same session. During the last five days, there has been a surge of approximately 9.32%. Over the course of the year, Salesforce Inc. shares have jumped approximately 37.98%. Shares of the company reached a 52-week high of $193.91 on 03/02/23 and a 52-week low of $133.03 on 01/03/23. A 50-day SMA is recorded $158.93, while a 200-day SMA reached $160.70. Nevertheless, trading volume fell to 6.75 million shares from 9.02 million shares the previous day.

Support And Resistance Levels for Salesforce Inc. (CRM)

According to the 24-hour chart, there is a support level at 181.53, which, if violated, would cause prices to drop to 180.12. In the upper region, resistance lies at 184.63. The next price resistance is at 186.32. RSI (Relative Strength Index) is 67.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 11.80, which suggests the price will increase in the coming days. Percent R is at 32.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Salesforce Inc. subject to short interest?

Stocks of Salesforce Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 1.56 million shares to 11.33 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 9.77 million shares. A jump of 13.77% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.17 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.17.

Which companies own the most shares of Salesforce Inc. (CRM)?

According to The Vanguard Group, Inc. filings, the company currently owns 77,793,248 shares, which is about 7.78% of the total CRM shares outstanding. The investor’s shares have appreciated by 1,331,262 from its previous 13-F filing of 76461986.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $7,905,894,045. SSgA Funds Management, Inc. acquire a 0.65% interest valued at $7.58 billion while Fidelity Management & Research Co sold a -7,287,939 stake. A total of -4,093,933 shares of Salesforce Inc. were sold by T. Rowe Price Associates, Inc. during the quarter, and 450,250 were bought by Geode Capital Management LLC. In its current portfolio, Fisher Asset Management LLC holds 13,875,409 shares valued at $2.33 billion.

In terms of Salesforce Inc. share price expectations, FactSet research, analysts set an average price target of $217.66 in the next 12 months, up nearly 22.74% from the previous closing price of $183.32. Analysts anticipate Salesforce Inc. stock to reach $320.00 by 2023, with the lowest price target being $75.00. In spite of this, 51 analysts ranked Salesforce Inc. stock as an Overweight at the end of 2023. On January 11, 2023, Bernstein assigned a price target of “an Underperform” to the stock and downgraded coverage with a $119.


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