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

Posted by Defense World Staff on Sep 8th, 2023

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $219.08, for a total value of $3,286,200.00. Following the transaction, the chief executive officer now directly owns 15,906,166 shares in the company, valued at $3,484,722,847.28. The sale was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $221.78, for a total value 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 value 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 value 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 value 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 value 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 value 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 value of $3,156,450.00.
On Friday, August 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $208.33, for a total value 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 value 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 value of $3,235,200.00.

Salesforce Stock Performance

NYSE CRM opened at $222.53 on Friday. Salesforce, Inc. has a 52-week low of $126.34 and a 52-week high of $238.22. The company 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 PE ratio of 139.96, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period last year, the business earned $0.52 earnings per share. Salesforce’s revenue was up 11.4% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 5.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. StockNews.com upgraded Salesforce from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 31st. Royal Bank of Canada reissued an “outperform” rating and set a $240.00 price target on shares of Salesforce in a research note on Thursday, August 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $275.00 target price on shares of Salesforce in a research note on Thursday, August 31st. JPMorgan Chase & Co. increased their target price on Salesforce from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 31st. Finally, Jefferies Financial Group increased their target price on Salesforce from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.86.

Read Our Latest Analysis on Salesforce

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Graham Capital Wealth Management LLC purchased a new position in shares of Salesforce during the first quarter worth approximately $233,743,000. Union Savings Bank purchased a new position in shares of Salesforce in the second quarter worth $27,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Salesforce by 374.1% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock valued at $27,000 after purchasing an additional 101 shares during the period. NewSquare Capital LLC increased its position in Salesforce by 132.8% during the 1st quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares during the period. Finally, Hanseatic Management Services Inc. purchased a new position in Salesforce during the 2nd quarter valued at $40,000. 77.52% of the stock is owned by hedge funds and other institutional investors.

About Salesforce

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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.