Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Salesforce Inc shares valued at $11,410,612 were sold by Benioff Marc on Apr 16 ’24. At $275.66 per share, Benioff Marc sold 41,394 shares. The insider’s holdings dropped to 12,872,327 shares worth approximately $3.56 billion following the completion of this transaction.
Also, Harris Parker sold 10,064 shares, netting a total of over 2,774,985 in proceeds. Following the sale of shares at $275.73 each, the insider now holds 111,652 shares.
Before that, Weaver Amy E had sold 5,864 shares from its account. In a trade valued at $1,611,266, the President and CFO traded Salesforce Inc shares for $274.77 each. Upon closing the transaction, the insider’s holdings decreased to 5,864 shares, worth approximately $12.5 million.
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 -7.78%. Over the course of the year, Salesforce Inc shares have jumped approximately 5.01%. 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 $297.77, while a 200-day SMA reached $246.51. Nevertheless, trading volume fell to 4.2 million shares from 7.62 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 274.45, which, if violated, would cause prices to drop to 272.58. In the upper region, resistance lies at 278.58. The next price resistance is at 280.84. RSI (Relative Strength Index) is 32.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -19.60, which suggests the price will decrease in the coming days. Percent R is at 88.24%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
