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 $4,526,080 were sold by Benioff Marc on Apr 09 ’24. At $301.74 per share, Benioff Marc sold 15,000 shares. The insider’s holdings dropped to 12,921,166 shares worth approximately $3.87 billion following the completion of this transaction.
Also, Harris Parker sold 4,200 shares, netting a total of over 1,267,364 in proceeds. Following the sale of shares at $301.75 each, the insider now holds 105,837 shares.
Before that, Benioff Marc had sold 15,000 shares from its account. In a trade valued at $4,530,433, the Chair and CEO traded Salesforce Inc shares for $302.03 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $3.88 billion.
As published in their initiating research note from KeyBanc Capital Markets on March 21, 2024, Salesforce Inc [CRM] has been a Sector weight. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of December 21, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for CRM. Earlier on December 20, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for CRM stock which previously was a “an Overweight”.
Analyzing CRM Stock Performance
During the last five days, there has been a drop of approximately -1.68%. Over the course of the year, Salesforce Inc shares have jumped approximately 13.86%. Shares of the company reached a 52-week high of $318.71 on 03/01/24 and a 52-week low of $249.84 on 01/04/24. A 50-day SMA is recorded $297.89, while a 200-day SMA reached $244.66. Nevertheless, trading volume fell to 3.04 million shares from 3.0 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 298.21, which, if violated, would cause prices to drop to 296.79. In the upper region, resistance lies at 300.98. The next price resistance is at 302.33. RSI (Relative Strength Index) is 48.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.72, which suggests the price will decrease in the coming days. Percent R is at 61.83%, 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 Mar 28, 2024 jumping by 0.42 million shares to 9.65 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 9.23 million shares. A jump of 4.35% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.38 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.38.
