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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $219.71, for a total value of $3,295,650.00. Following the sale, the chief executive officer now directly owns 15,816,166 shares in the company, valued at approximately $3,474,969,831.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, September 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $224.81, for a total transaction of $3,372,150.00.
• On Thursday, September 7th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 shares were sold at an average price of $219.08, for a total value of $3,286,200.00.
• On Friday, September 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $221.78, for a total value of $3,326,700.00.
• On Wednesday, August 30th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $213.73, for a total transaction of $3,205,950.00.
• On Monday, August 28th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $211.11, for a total transaction of $3,166,650.00.
• On Thursday, August 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $207.29, for a total transaction of $3,109,350.00.
• On Tuesday, August 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $207.65, for a total transaction of $3,114,750.00.
• On Thursday, August 17th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $205.12, for a total value of $3,076,800.00.
• On Monday, August 14th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $210.43, for a total value of $3,156,450.00.

Salesforce Price Performance

NYSE:CRM opened at $218.78 on Friday. Salesforce, Inc. has a 52 week low of $126.34 and a 52 week high of $238.22. The stock’s fifty day moving average is $217.97 and its two-hundred day moving average is $205.66. The company has a market capitalization of $212.87 billion, a P/E ratio of 137.60, a P/E/G ratio of 1.66 and a beta of 1.19. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (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 analyst estimates of $8.53 billion. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. Salesforce’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Equities analysts expect that Salesforce, Inc. will post 5.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Sanford C. Bernstein upped their target price on Salesforce from $145.00 to $153.00 in a research report on Thursday, June 1st. Piper Sandler upped their price objective on shares of Salesforce from $248.00 to $268.00 and gave the company an “overweight” rating in a report on Thursday, August 31st. Wells Fargo & Company increased their price target on Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 31st. Raymond James upped their target price on Salesforce from $260.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 31st. Finally, Truist Financial reiterated a “buy” rating and set a $275.00 price target on shares of Salesforce in a research report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.59.

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently made changes to their positions in CRM. Graham Capital Wealth Management LLC acquired a new position in Salesforce during the 1st quarter worth about $233,743,000. Union Savings Bank purchased a new position in Salesforce in the second quarter worth approximately $27,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of 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 last quarter. NewSquare Capital LLC raised its holdings in shares of Salesforce by 132.8% in the 1st quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares in the last quarter. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of Salesforce during the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Salesforce Company Profile

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.