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

Posted by Defense World Staff on Mar 25th, 2023

Salesforce, Inc. (NYSE:CRM – Get Rating) CEO Marc Benioff sold 725 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $189.03, for a total value of $137,046.75. Following the completion of the transaction, the chief executive officer now directly owns 27,671,609 shares of the company’s stock, valued at approximately $5,230,764,249.27. The sale 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 Monday, March 20th, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $184.32, for a total value of $133,632.00.
On Friday, March 17th, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $185.49, for a total value of $134,480.25.
On Wednesday, March 15th, Marc Benioff sold 725 shares of Salesforce stock. The stock was sold at an average price of $181.28, for a total value of $131,428.00.
On Monday, March 13th, Marc Benioff sold 725 shares of Salesforce stock. The shares were sold at an average price of $174.42, for a total value of $126,454.50.
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 value of $132,812.75.
On Monday, March 6th, Marc Benioff sold 725 shares of Salesforce stock. The shares were 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 shares were 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 shares were 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.

Salesforce Stock Performance

Shares of CRM opened at $190.06 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $190.06 billion, a price-to-earnings ratio of 905.05, a PEG ratio of 2.31 and a beta of 1.21. The stock has a 50 day moving average of $170.42 and a 200 day moving average of $154.97. Salesforce, Inc. has a 12 month low of $126.34 and a 12 month high of $222.15.

Salesforce (NYSE:CRM – Get Rating) last released its earnings results on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.32. Salesforce had a return on equity of 4.48% and a net margin of 0.66%. The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $7.99 billion. During the same period last year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 4.89 earnings per share for the current year.

Salesforce announced that its board has initiated a share buyback program on Wednesday, March 1st that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the CRM provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Oppenheimer raised their target price on Salesforce from $185.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, March 2nd. TD Cowen raised their target price on Salesforce from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, March 2nd. Morgan Stanley raised their target price on Salesforce from $236.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, March 2nd. Cowen raised their target price on Salesforce from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Finally, Stifel Nicolaus cut their price target on Salesforce from $200.00 to $185.00 in a report on Monday, November 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.24.

Institutional Trading of Salesforce

Large investors have recently bought and sold shares of the company. Verition Fund Management LLC increased its position in Salesforce by 1,014.8% in the second quarter. Verition Fund Management LLC now owns 32,386 shares of the CRM provider’s stock worth $5,345,000 after buying an additional 29,481 shares during the last quarter. Stephens Inc. AR grew its position in shares of Salesforce by 0.5% in the third quarter. Stephens Inc. AR now owns 137,757 shares of the CRM provider’s stock valued at $19,815,000 after purchasing an additional 656 shares in the last quarter. Archford Capital Strategies LLC grew its position in shares of Salesforce by 6.6% in the third quarter. Archford Capital Strategies LLC now owns 4,736 shares of the CRM provider’s stock valued at $681,000 after purchasing an additional 295 shares in the last quarter. Personal Capital Advisors Corp grew its position in shares of Salesforce by 26.1% in the third quarter. Personal Capital Advisors Corp now owns 490,626 shares of the CRM provider’s stock valued at $70,572,000 after purchasing an additional 101,463 shares in the last quarter. Finally, Amussen Hunsaker Associates LLC grew its position in shares of Salesforce by 16.7% in the second quarter. Amussen Hunsaker Associates LLC now owns 3,486 shares of the CRM provider’s stock valued at $571,000 after purchasing an additional 498 shares in the last quarter. 75.83% of the stock is owned by hedge funds and other institutional investors.

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.

Insider Buying and Selling by Quarter for Salesforce (NYSE:CRM)

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