Marc Benioff Sells 2,300 Shares of Salesforce, Inc. (NYSE:CRM) Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $162.85, for a total transaction of $374,555.00. Following the transaction, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $4,710,599,100. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

  • On Friday, May 27th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $163.40, for a total transaction of $375,820.00.
  • On Wednesday, May 25th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $159.28, for a total transaction of $366,344.00.
  • On Monday, May 23rd, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $158.97, for a total transaction of $365,631.00.
  • On Friday, May 20th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $157.52, for a total transaction of $362,296.00.
  • On Wednesday, May 18th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $159.39, for a total transaction of $366,597.00.
  • On Monday, May 16th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $164.36, for a total transaction of $378,028.00.
  • On Thursday, May 12th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $160.60, for a total transaction of $369,380.00.
  • On Monday, May 9th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $165.37, for a total transaction of $380,351.00.
  • On Thursday, May 5th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $173.61, for a total transaction of $399,303.00.
  • On Monday, May 2nd, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $175.66, for a total transaction of $404,018.00.

Shares of Salesforce stock traded up $15.83 on Wednesday, hitting $176.07. The company had a trading volume of 37,004,978 shares, compared to its average volume of 7,793,066. The firm has a market capitalization of $174.37 billion, a P/E ratio of 117.38, a P/E/G ratio of 4.74 and a beta of 1.16. Salesforce, Inc. has a twelve month low of $154.55 and a twelve month high of $311.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50-day moving average of $182.63 and a 200-day moving average of $217.46.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Salesforce had a net margin of 5.45% and a return on equity of 4.76%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. Equities analysts predict that Salesforce, Inc. will post 2.08 EPS for the current year.

Several equities analysts recently issued reports on the stock. Mizuho cut their price target on shares of Salesforce from $295.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 18th. Wells Fargo & Company boosted their target price on shares of Salesforce from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday. Loop Capital dropped their target price on shares of Salesforce from $275.00 to $225.00 in a research note on Monday, February 7th. Stifel Nicolaus dropped their target price on shares of Salesforce from $300.00 to $250.00 in a research note on Wednesday. Finally, Bank of America dropped their target price on shares of Salesforce from $360.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, March 2nd. Five analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $274.02.

Several hedge funds have recently made changes to their positions in CRM. Morgan Stanley lifted its position in shares of Salesforce by 20.2% in the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock worth $4,046,065,000 after purchasing an additional 2,787,393 shares in the last quarter. Center for Financial Planning Inc. lifted its position in shares of Salesforce by 2.6% in the third quarter. Center for Financial Planning Inc. now owns 6,954 shares of the CRM provider’s stock worth $1,886,000 after purchasing an additional 176 shares in the last quarter. New World Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth $481,000. Assetmark Inc. lifted its position in shares of Salesforce by 272.3% in the third quarter. Assetmark Inc. now owns 1,355 shares of the CRM provider’s stock worth $368,000 after purchasing an additional 991 shares in the last quarter. Finally, Logan Capital Management Inc. lifted its position in shares of Salesforce by 31.3% in the third quarter. Logan Capital Management Inc. now owns 495 shares of the CRM provider’s stock worth $134,000 after purchasing an additional 118 shares in the last quarter. 77.75% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Company Profile (Get Rating)

Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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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