Understanding the Surge in CRM Stock Today

This afternoon we watched Salesforce rise 4.8% to a price of $242.95 per share. The Large-Cap Software company is now trading -17.93% below its average target price of $296.04. Analysts have set target prices ranging from $230.0 to $390.0 per share for Salesforce, and have given the stock an average rating of buy.

Salesforce's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.0%. The stock's short ratio is 1.9. The company's insiders own 2.6% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 83.2%. In conclusion, we believe there is positive market sentiment regarding Salesforce.

Institutions Invested in Salesforce

Date Reported Holder Percentage Shares Value
2024-03-31 Vanguard Group Inc 9% 84,635,254 $20,562,134,701
2024-03-31 Blackrock Inc. 7% 72,465,977 $17,605,608,891
2024-03-31 State Street Corporation 5% 47,039,941 $11,428,353,522
2024-03-31 FMR, LLC 4% 36,891,791 $8,962,860,510
2024-03-31 Morgan Stanley 2% 19,990,916 $4,856,792,981
2024-03-31 Geode Capital Management, LLC 2% 19,012,516 $4,619,090,704
2024-03-31 JP Morgan Chase & Company 2% 18,684,706 $4,539,449,265
2024-03-31 Capital World Investors 2% 15,207,188 $3,694,586,278
2024-03-31 Capital Research Global Investors 1% 14,376,536 $3,492,779,377
2024-03-31 Capital International Investors 1% 14,116,449 $3,429,591,241
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.