Salesforce Inc. (CRM) receives an Equal-weight rating from Morgan Stanley


Salesforce Inc.’s filing revealed that its President and CFO Weaver Amy E unloaded Company’s shares for reported $3.69 million on Aug 31. In the deal valued at $226.47 per share,16,275 shares were sold. As a result of this transaction, Weaver Amy E now holds 35,611 shares worth roughly $ 7.89 million.

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Then, Benioff Marc sold 15,000 shares, generating $3,351,974 in total proceeds. Upon selling the shares at $223.46, the Chair and CEO now owns 15,936,166 shares.

Before that, Harris Parker sold 6,250 shares. Salesforce Inc. shares valued at $1,425,000 were divested by the Co-Founder and CTO at a price of $228.00 per share. As a result of the transaction, Harris Parker now holds 101,790 shares, worth roughly $22.55 million.

Morgan Stanley downgraded its Salesforce Inc. [CRM] rating to an Equal-weight from a an Overweight in a research note published on Friday, July 31, 2023; the price target was increased to $278 from $251. PT values the company’s stock at a premium of 20.31 to its Friday closing price.

Price Performance Review of CRM

On Friday, Salesforce Inc. [NYSE:CRM] saw its stock jump 0.03% to $221.53. On the same session, the stock had its day’s lowest price of $220.52, but rose to a high of $223.97. Over the last five days, the stock has gained 5.76%. Salesforce Inc. shares have risen nearly 67.08% since the year began. Nevertheless, the stocks have risen 41.90% over the past one year. While a 52-week high of $238.22 was reached on 07/19/23, a 52-week low of $126.34 was recorded on 01/03/23. SMA at 50 days reached $216.18, while 200 days put it at $185.71. A total of 5.6 million shares were traded, compared to the trading of 19.27 million shares in the previous session.

Levels Of Support And Resistance For CRM Stock

The 24-hour chart illustrates a support level at 220.04, which if violated will result in even more drops to 218.56. On the upside, there is a resistance level at 223.49. A further resistance level may holdings at 225.46. The Relative Strength Index (RSI) on the 14-day chart is 61.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 8.91, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 25.39%. Stochastics %K at 81.80% indicates the stock is a selling.

How much short interest is there in Salesforce Inc.?

A steep rise in short interest was recorded in Salesforce Inc. stocks on Aug 14, 2023, dropping by -2.36 million shares to a total of 7.28 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 9.64 million shares. There was a decline of -32.42%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.77% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.54.

Salesforce Inc. [CRM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 79,164,074 shares, or roughly 8.13% of the outstanding CRM shares. In other words, the investor’s shares have risen by 580,441 from its previous 13-F filing of 78583633.0. Additionally, BlackRock Fund Advisors increased 0.31% of its stake after which the total value it holdings stand at $10,418,411,895, while SSgA Funds Management, Inc. added 0.32% of its stake to hold $10.27 billion in the firm. Over the last quarter, Fidelity Management & Research Co purchased 1,512,568 shares of Salesforce Inc., while Capital Research & Management Co bought 4,458,227 shares. At present, Geode Capital Management LLC is holding 17,786,511 shares valued at $4.0 billion. Fisher Asset Management LLC owned 13,891,780 shares of the company at the time of its most recent 13F filing, worth $3.13 billion.

According to FactSet, Salesforce Inc.’s share price will average $256.15 in the next year, based on opinions of analysts polled by the firm. This is up nearly 15.14 percent from its previous closing price of $221.46. Analysts expect Salesforce Inc. stock to reach the higher price of $340.00, while the lowest price estimate is $159.00. However, 51 analysts have rated CRM stock as an Overweight in their predictions for 2023.


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