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

Posted by on Jun 17th, 2022

Salesforce, Inc. (NYSE:CRM – Get Rating) CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $167.94, for a total transaction of $386,262.00. Following the completion of the sale, the chief executive officer now owns 28,761,368 shares in the company, valued at approximately $4,830,184,141.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Monday, June 13th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $168.34, for a total transaction of $387,182.00.
  • On Friday, June 10th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $179.58, for a total transaction of $413,034.00.
  • On Wednesday, June 8th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $188.80, for a total transaction of $434,240.00.
  • On Monday, June 6th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $184.96, for a total transaction of $425,408.00.
  • On Thursday, June 2nd, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $182.65, for a total transaction of $420,095.00.
  • On Tuesday, May 31st, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $162.85, for a total transaction of $374,555.00.
  • On Friday, May 27th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were 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 shares were 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 shares were 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.

Shares of Salesforce stock opened at $159.85 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day simple moving average is $174.45 and its 200-day simple moving average is $208.04. Salesforce, Inc. has a twelve month low of $154.55 and a twelve month high of $311.75. The firm has a market cap of $159.05 billion, a P/E ratio of 155.20, a price-to-earnings-growth ratio of 4.62 and a beta of 1.16.

Salesforce (NYSE:CRM – Get Rating) last issued its 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. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 24.3% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Vectors Research Management LLC boosted its position in Salesforce by 128.9% in the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after buying an additional 58 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Salesforce in the fourth quarter worth about $27,000. Financial Enhancement Group LLC raised its stake in shares of Salesforce by 589.5% in the fourth quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 112 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Salesforce in the fourth quarter worth about $35,000. Finally, MCF Advisors LLC bought a new position in shares of Salesforce in the first quarter worth about $30,000. Hedge funds and other institutional investors own 77.75% of the company’s stock.

A number of research analysts recently commented on CRM shares. Cowen lowered their price objective on shares of Salesforce from $285.00 to $225.00 in a research note on Monday, May 23rd. Canaccord Genuity Group reduced their target price on shares of Salesforce from $315.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. Barclays raised their target price on shares of Salesforce from $208.00 to $218.00 and gave the stock an “overweight” rating in a report on Wednesday, June 1st. CICC Research assumed coverage on shares of Salesforce in a report on Monday, May 9th. They set an “outperform” rating for the company. Finally, Citigroup raised their target price on shares of Salesforce to $192.00 in a report on Friday, June 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Buy” and an average target price of $272.50.

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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