Marc Benioff Sells 15,000 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Posted by on Sep 8th, 2023

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $219.08, for a total value of $3,286,200.00. Following the sale, the chief executive officer now directly owns 15,906,166 shares in the company, valued at $3,484,722,847.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Friday, September 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $221.78, for a total transaction of $3,326,700.00.
  • On Wednesday, August 30th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $213.73, for a total transaction of $3,205,950.00.
  • On Monday, August 28th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $211.11, for a total transaction of $3,166,650.00.
  • On Thursday, August 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $207.29, for a total transaction of $3,109,350.00.
  • On Tuesday, August 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $207.65, for a total transaction of $3,114,750.00.
  • On Thursday, August 17th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $205.12, for a total transaction of $3,076,800.00.
  • On Monday, August 14th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $210.43, for a total transaction of $3,156,450.00.
  • On Friday, August 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $208.33, for a total transaction of $3,124,950.00.
  • On Wednesday, August 9th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $207.42, for a total transaction of $3,111,300.00.
  • On Monday, August 7th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $215.68, for a total transaction of $3,235,200.00.

Salesforce Stock Up 0.4 %

Salesforce stock opened at $222.53 on Friday. The stock has a 50-day simple moving average of $217.12 and a 200-day simple moving average of $203.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $216.52 billion, a P/E ratio of 139.96, a PEG ratio of 1.82 and a beta of 1.19. Salesforce, Inc. has a fifty-two week low of $126.34 and a fifty-two week high of $238.22.

Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.22. The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. Equities research analysts expect that Salesforce, Inc. will post 5.34 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wedbush raised their price target on shares of Salesforce from $240.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, August 31st. Wells Fargo & Company lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Jefferies Financial Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. Canaccord Genuity Group lifted their price objective on shares of Salesforce from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, August 31st. Finally, Bank of America increased their price target on shares of Salesforce from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.86.

Read Our Latest Report on CRM

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlas Brown Inc. lifted its stake in shares of Salesforce by 0.7% during the second quarter. Atlas Brown Inc. now owns 6,237 shares of the CRM provider’s stock worth $1,318,000 after purchasing an additional 44 shares in the last quarter. Country Club Bank GFN increased its holdings in Salesforce by 0.9% in the second quarter. Country Club Bank GFN now owns 5,778 shares of the CRM provider’s stock valued at $1,216,000 after buying an additional 50 shares during the last quarter. Summit X LLC increased its holdings in Salesforce by 4.8% in the second quarter. Summit X LLC now owns 1,084 shares of the CRM provider’s stock valued at $229,000 after buying an additional 50 shares during the last quarter. Walkner Condon Financial Advisors LLC increased its holdings in Salesforce by 2.0% in the first quarter. Walkner Condon Financial Advisors LLC now owns 2,599 shares of the CRM provider’s stock valued at $519,000 after buying an additional 51 shares during the last quarter. Finally, Western Pacific Wealth Management LP grew its holdings in shares of Salesforce by 1.2% during the first quarter. Western Pacific Wealth Management LP now owns 4,545 shares of the CRM provider’s stock valued at $908,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

Salesforce Company Profile

(Get Free Report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.

See Also

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

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