Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff Sells 725 Shares of Stock

Posted by on Mar 15th, 2023

Salesforce, Inc. (NYSE:CRM – Get Rating) CEO Marc Benioff sold 725 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $174.42, for a total transaction of $126,454.50. Following the completion of the sale, the chief executive officer now owns 27,753,609 shares of the company’s stock, valued at approximately $4,840,784,481.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Marc Benioff also recently made the following trade(s):

  • On Wednesday, March 8th, Marc Benioff sold 725 shares of Salesforce stock. The shares were sold at an average price of $183.19, for a total transaction of $132,812.75.
  • On Monday, March 6th, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $186.62, for a total value of $135,299.50.
  • On Thursday, March 2nd, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $188.10, for a total value of $136,372.50.
  • On Monday, February 27th, Marc Benioff sold 725 shares of Salesforce stock. The shares were sold at an average price of $163.07, for a total value of $118,225.75.
  • On Friday, February 24th, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $160.98, for a total value of $116,710.50.
  • On Wednesday, February 22nd, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $163.33, for a total value of $118,414.25.
  • On Wednesday, February 15th, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $169.61, for a total value of $122,967.25.
  • On Monday, February 13th, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $169.83, for a total value of $123,126.75.
  • On Friday, February 10th, Marc Benioff sold 725 shares of Salesforce stock. The shares were sold at an average price of $166.91, for a total value of $121,009.75.
  • On Wednesday, February 8th, Marc Benioff sold 725 shares of Salesforce stock. The shares were sold at an average price of $170.22, for a total value of $123,409.50.

Salesforce Stock Up 4.2 %

Salesforce stock opened at $182.89 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 12-month low of $126.34 and a 12-month high of $222.15. The firm’s fifty day moving average is $163.66 and its 200 day moving average is $153.24. The company has a market capitalization of $182.89 billion, a PE ratio of 870.90, a PEG ratio of 2.12 and a beta of 1.21.

Salesforce (NYSE:CRM – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.32. Salesforce had a net margin of 0.66% and a return on equity of 4.48%. The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 4.88 EPS for the current fiscal year.

Salesforce declared that its board has authorized a stock buyback program on Wednesday, March 1st that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the CRM provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CRM shares. TD Cowen increased their price target on Salesforce from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, March 2nd. Wells Fargo & Company upped their price objective on Salesforce from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, March 2nd. Evercore ISI upped their price objective on Salesforce from $200.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, March 2nd. Jefferies Financial Group decreased their price objective on Salesforce from $240.00 to $230.00 in a report on Thursday, December 1st. Finally, Raymond James upped their price objective on Salesforce from $200.00 to $240.00 and gave the company a “strong-buy” rating in a report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $211.24.

Institutional Trading of Salesforce

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Shields & Co. LLC raised its holdings in shares of Salesforce by 4.4% in the second quarter. Wellington Shields & Co. LLC now owns 1,301 shares of the CRM provider’s stock valued at $215,000 after purchasing an additional 55 shares during the last quarter. Avory & Company LLC raised its holdings in shares of Salesforce by 1.8% in the fourth quarter. Avory & Company LLC now owns 3,441 shares of the CRM provider’s stock valued at $456,000 after purchasing an additional 60 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after buying an additional 63 shares during the period. Roman Butler Fullerton & Co. grew its position in Salesforce by 4.3% during the fourth quarter. Roman Butler Fullerton & Co. now owns 1,547 shares of the CRM provider’s stock valued at $230,000 after buying an additional 64 shares during the period. Finally, Ameritas Advisory Services LLC grew its position in Salesforce by 1.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 6,604 shares of the CRM provider’s stock valued at $876,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 75.83% of the company’s stock.

Salesforce Company Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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