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

Salesforce, Inc. (NYSE:CRMGet Rating) CEO Marc Benioff sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $151.07, for a total value of $347,461.00. Following the sale, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at approximately $4,193,909,863.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

  • On Wednesday, September 14th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $160.06, for a total value of $368,138.00.
  • On Monday, September 12th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $164.15, for a total value of $377,545.00.
  • On Thursday, September 8th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $155.51, for a total value of $357,673.00.
  • On Monday, August 29th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $162.57, for a total value of $373,911.00.
  • On Friday, August 26th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $169.05, for a total value of $388,815.00.
  • On Wednesday, August 24th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $179.53, for a total value of $412,919.00.
  • On Monday, August 22nd, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $177.43, for a total value of $408,089.00.
  • On Friday, August 19th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $183.26, for a total value of $421,498.00.
  • On Wednesday, August 17th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $187.79, for a total value of $431,917.00.
  • On Monday, August 15th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $190.69, for a total value of $438,587.00.

Salesforce Stock Performance

Shares of Salesforce stock opened at $152.83 on Tuesday. The stock has a market cap of $152.83 billion, a PE ratio of 283.02, a price-to-earnings-growth ratio of 4.11 and a beta of 1.12. The business has a fifty day simple moving average of $173.14 and a 200-day simple moving average of $179.79. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 12 month low of $149.56 and a 12 month high of $311.75.

Salesforce (NYSE:CRMGet Rating) last issued its earnings results on Wednesday, August 24th. The CRM provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.02 by $0.17. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. Salesforce’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. On average, sell-side analysts anticipate that Salesforce, Inc. will post 2.2 EPS for the current fiscal year.

Salesforce announced that its Board of Directors has approved a stock buyback program on Wednesday, August 24th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the CRM provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Salesforce

Institutional investors have recently bought and sold shares of the company. Lebenthal Global Advisors LLC acquired a new stake in Salesforce during the fourth quarter valued at $399,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Salesforce in the first quarter worth about $8,302,000. Lombard Odier Asset Management Europe Ltd lifted its position in shares of Salesforce by 18.5% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 21,635 shares of the CRM provider’s stock worth $4,594,000 after buying an additional 3,378 shares during the last quarter. Soltis Investment Advisors LLC lifted its position in shares of Salesforce by 6.2% in the first quarter. Soltis Investment Advisors LLC now owns 1,133 shares of the CRM provider’s stock worth $240,000 after buying an additional 66 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Salesforce by 11.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 170,612 shares of the CRM provider’s stock worth $36,224,000 after buying an additional 17,441 shares during the last quarter. Institutional investors and hedge funds own 77.02% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Loop Capital cut their price target on Salesforce from $225.00 to $175.00 and set a “hold” rating on the stock in a report on Thursday, June 2nd. Stifel Nicolaus cut their price target on Salesforce to $200.00 in a report on Thursday, August 25th. Canaccord Genuity Group cut their price target on Salesforce from $260.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, August 25th. Piper Sandler cut their price target on Salesforce from $220.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, August 25th. Finally, Wolfe Research cut their target price on Salesforce from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, August 25th. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.21.

About Salesforce

(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.

Featured Stories

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

Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.