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 company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $151.79, for a total transaction of $349,117.00. Following the completion of the sale, the chief executive officer now directly owns 27,761,368 shares in the company, valued at $4,213,898,048.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Friday, September 16th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $151.07, for a total transaction of $347,461.00.
  • 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 transaction 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 transaction of $377,545.00.
  • On Thursday, September 8th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $155.51, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $421,498.00.
  • On Wednesday, August 17th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $187.79, for a total transaction of $431,917.00.

Salesforce Stock Performance

Shares of CRM opened at $147.63 on Thursday. The company has a market capitalization of $147.63 billion, a PE ratio of 273.39, a price-to-earnings-growth ratio of 4.15 and a beta of 1.12. Salesforce, Inc. has a one year low of $147.51 and a one year high of $311.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The company’s fifty day moving average price is $172.06 and its 200 day moving average price is $179.01.

Salesforce (NYSE:CRMGet Rating) last announced its earnings results on Wednesday, August 24th. The CRM provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.37 by $0.15. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.70 billion. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. As a group, analysts expect that Salesforce, Inc. will post 2.2 earnings per share for the current year.

Salesforce announced that its board has initiated a stock repurchase program on Wednesday, August 24th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the CRM provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CRM shares. Piper Sandler lowered their price objective on shares of Salesforce from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, August 25th. Wedbush reduced their target price on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, August 25th. Stifel Nicolaus reduced their target price on shares of Salesforce to $200.00 in a report on Thursday, August 25th. Wells Fargo & Company reduced their target price on shares of Salesforce from $235.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, August 25th. Finally, UBS Group reduced their target price on shares of Salesforce from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, August 25th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.21.

Institutional Trading of Salesforce

Institutional investors have recently made changes to their positions in the business. Vectors Research Management LLC boosted its position in shares of Salesforce by 128.9% during the 4th quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 58 shares in the last quarter. MCF Advisors LLC acquired a new position in Salesforce in the first quarter valued at about $30,000. FSC Wealth Advisors LLC boosted its position in Salesforce by 1,350.0% in the first quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock valued at $31,000 after buying an additional 135 shares in the last quarter. Retirement Group LLC boosted its position in Salesforce by 65.5% in the first quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock valued at $39,000 after buying an additional 72 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in Salesforce in the fourth quarter valued at about $53,000. 77.02% 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.

Recommended 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.