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KeyBanc Capital Markets gives a Sector weight recommendation for Salesforce Inc (CRM)

In a filing, Salesforce Inc revealed its Chair and CEO Benioff Marc unloaded Company’s shares for reported $4.11 million on May 09 ’24. In the deal valued at $274.29 per share,15,000 shares were sold. As a result of this transaction, Benioff Marc now holds 12,617,327 shares worth roughly $3.49 billion.

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Then, Benioff Marc sold 15,000 shares, generating $4,179,383 in total proceeds. Upon selling the shares at $278.63, the Chair and CEO now owns 12,632,327 shares.

Before that, Benioff Marc sold 15,000 shares. Salesforce Inc shares valued at $4,159,208 were divested by the Chair and CEO at a price of $277.28 per share. As a result of the transaction, Benioff Marc now holds 12,647,327 shares, worth roughly $3.5 billion.

KeyBanc Capital Markets initiated its Salesforce Inc [CRM] rating to a Sector weight in a research note published recently. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who increased its forecast for the stock in mid January from “a Neutral” to “an Outperform”. Morgan Stanley also remained covering CRM and has increased its forecast on December 21, 2023 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Wells Fargo revised its rating on December 20, 2023. It rated CRM as “an Equal weight” which previously was an “an Overweight”.

Price Performance Review of CRM

On Friday, Salesforce Inc [NYSE:CRM] saw its stock jump 0.55% to $276.67. Over the last five days, the stock has gained 1.10%. Salesforce Inc shares have risen nearly 5.14% since the year began. Nevertheless, the stocks have risen 35.06% over the past one year. While a 52-week high of $318.71 was reached on 03/01/24, a 52-week low of $193.68 was recorded on 01/04/24. SMA at 50 days reached $291.71, while 200 days put it at $250.85. A total of 2.9 million shares were traded, compared to the trading of 4.71 million shares in the previous session.

Levels Of Support And Resistance For CRM Stock

The 24-hour chart illustrates a support level at 274.55, which if violated will result in even more drops to 272.42. On the upside, there is a resistance level at 279.22. A further resistance level may holdings at 281.76. The Relative Strength Index (RSI) on the 14-day chart is 44.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.43, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 24.42%. Stochastics %K at 77.57% indicates the stock is a holding.

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