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

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, September 29th. The shares were sold at an average price of $204.23, for a total value of $3,063,450.00. Following the completion of the sale, the chief executive officer now directly owns 15,386,166 shares of the company’s stock, valued at $3,142,316,682.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

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• On Wednesday, September 27th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $202.53, for a total value of $3,037,950.00.
• On Monday, September 25th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $205.57, for a total transaction of $3,083,550.00.
• On Friday, September 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $207.63, for a total transaction of $3,114,450.00.
• On Wednesday, September 20th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $214.77, for a total transaction of $3,221,550.00.
• On Monday, September 18th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $215.05, for a total value of $3,225,750.00.
• On Friday, September 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $215.54, for a total value of $3,233,100.00.
• On Wednesday, September 13th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $219.71, for a total value of $3,295,650.00.
• On Monday, September 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $224.81, for a total value of $3,372,150.00.
• On Thursday, September 7th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $221.70, for a total transaction of $3,325,500.00.
• On Tuesday, September 5th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $219.08, for a total transaction of $3,286,200.00.

Salesforce Stock Up 0.5 %

CRM opened at $203.73 on Tuesday. The stock’s fifty day simple moving average is $213.99 and its 200 day simple moving average is $208.63. Salesforce, Inc. has a 1-year low of $126.34 and a 1-year high of $238.22. The stock has a market cap of $198.23 billion, a PE ratio of 128.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.

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 the consensus estimate of $1.90 by $0.22. The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 5.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRM. Wells Fargo & Company upped their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 31st. Oppenheimer raised their price target on Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Mizuho boosted their price objective on Salesforce from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Loop Capital raised their target price on shares of Salesforce from $215.00 to $230.00 and gave the stock a “hold” rating in a report on Thursday, August 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Salesforce in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $242.28.

View Our Latest Analysis on Salesforce

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRM. Graham Capital Wealth Management LLC acquired a new stake in shares of Salesforce during the first quarter worth $233,743,000. Union Savings Bank acquired a new stake in Salesforce in the 2nd quarter worth about $27,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Salesforce by 374.1% in 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 holdings in shares of Salesforce by 132.8% during the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 85 shares during the period. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Salesforce in the second quarter valued at approximately $40,000. 77.52% of the stock is owned by 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.

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