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CRM Stock Sees Surge of Approximately 7.14% in Last Five Days

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 $1,076,196 were sold by Harris Parker on Jul 02 ’24. At $256.24 per share, Harris Parker sold 4,200 shares. The insider’s holdings dropped to 116,693 shares worth approximately $30.4 million following the completion of this transaction.

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Also, Millham Brian sold 2,018 shares, netting a total of over 524,680 in proceeds. Following the sale of shares at $260.00 each, the insider now holds 0 shares.

Before that, Harris Parker had sold 5,600 shares from its account. In a trade valued at $1,400,945, the Co-Founder and CTO, Slack traded Salesforce Inc shares for $250.17 each. Upon closing the transaction, the insider’s holdings decreased to 5,600 shares, worth approximately $30.4 million.

As published in a research note from Oppenheimer on May 30, 2024, Salesforce Inc [CRM] has been retained to an Outperform and the price target has been revised to $280. Analysts at KeyBanc Capital Markets started covering the stock with ‘”a Sector weight”‘ outlook in a report released in late March. As of January 11, 2024, Robert W. Baird has increased its “Neutral” rating to a “an Outperform” for CRM. Earlier on December 21, 2023, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for CRM stock which previously was a “an Equal-weight”.

Analyzing CRM Stock Performance

During the last five days, there has been a surge of approximately 7.14%. Over the course of the year, Salesforce Inc shares have dropped approximately -1.00%. Shares of the company reached a 52-week high of $318.71 on 03/01/24 and a 52-week low of $212.00 on 05/30/24. A 50-day SMA is recorded $259.68, while a 200-day SMA reached $257.83. Nevertheless, trading volume fell to 4.76 million shares from 5.13 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 258.18, which, if violated, would cause prices to drop to 255.42. In the upper region, resistance lies at 262.47. The next price resistance is at 263.99. RSI (Relative Strength Index) is 59.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 13.62, which suggests the price will increase in the coming days. Percent R is at 0.81%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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