Why Are Shares of Salesforce (CRM) Down Today?

Salesforce stock is trading -24.36% below its average target price of $192.23 after dropping -1.4% during today's morning session. Analysts are giving the large-cap Software company an average rating of buy and target prices ranging from $100 to $385 per share.

The stock has a very low short interest at 1.0%, and a short ratio of 0.86. The company's insiders own 3.25% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 79.8% of Salesforce's shares being owned by this investor type.

Institutions Invested in Salesforce

Holder Shares Date Reported Percentage Value
Vanguard Group, Inc. (The) 80,449,523 2022-09-29 8% $11,693,740,071
Blackrock Inc. 68,810,159 2022-09-29 7% $10,001,900,367
State Street Corporation 44,825,733 2022-09-29 4% $6,515,644,228
FMR, LLC 43,002,864 2022-09-29 4% $6,250,681,112
Price (T.Rowe) Associates Inc 30,387,162 2022-09-29 3% $4,416,925,802
Morgan Stanley 18,854,824 2022-09-29 2% $2,740,642,861
Geode Capital Management, LLC 16,966,660 2022-09-29 2% $2,466,188,791
Jennison Associates LLC 13,688,506 2022-09-29 1% $1,989,692,731
Fisher Asset Management, LLC 12,725,963 2022-09-29 1% $1,849,782,297
Wellington Management Group, LLP 12,263,009 2022-09-29 1% $1,782,489,620

Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Salesforce.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.