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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $220.94, for a total value of $3,314,100.00. Following the transaction, the chief executive officer now owns 14,876,166 shares in the company, valued at approximately $3,286,740,116.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, November 13th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $214.87, for a total transaction of $3,223,050.00.
• On Wednesday, November 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $211.23, for a total transaction of $3,168,450.00.
• On Monday, November 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $206.27, for a total transaction of $3,094,050.00.
• On Friday, November 3rd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $208.39, for a total transaction of $3,125,850.00.
• On Wednesday, November 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $202.95, for a total value of $3,044,250.00.
• On Monday, October 30th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $199.01, for a total value of $2,985,150.00.
• On Friday, October 27th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $196.64, for a total value of $2,949,600.00.
• On Wednesday, October 25th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $198.31, for a total transaction of $2,974,650.00.
• On Monday, October 23rd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $201.68, for a total transaction of $3,025,200.00.
• On Friday, October 20th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $204.55, for a total transaction of $3,068,250.00.

Salesforce Stock Down 0.1 %

Salesforce stock opened at $221.26 on Friday. The stock has a 50 day moving average of $208.52 and a two-hundred day moving average of $211.66. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month high of $238.22. The stock has a market capitalization of $215.29 billion, a price-to-earnings ratio of 139.16, a PEG ratio of 1.66 and a beta of 1.18. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.22. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period last year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts expect that Salesforce, Inc. will post 5.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CRM. Atlas Brown Inc. lifted its holdings in shares of Salesforce by 0.7% in the 2nd quarter. Atlas Brown Inc. now owns 6,237 shares of the CRM provider’s stock valued at $1,318,000 after buying an additional 44 shares during the period. Fort Point Capital Partners LLC lifted its holdings in Salesforce by 1.5% in the third quarter. Fort Point Capital Partners LLC now owns 3,298 shares of the CRM provider’s stock valued at $669,000 after acquiring an additional 49 shares during the period. Seven Springs Wealth Group LLC grew its stake in shares of Salesforce by 1.1% during the 3rd quarter. Seven Springs Wealth Group LLC now owns 4,714 shares of the CRM provider’s stock worth $956,000 after purchasing an additional 49 shares during the period. Country Club Bank GFN lifted its stake in shares of Salesforce by 0.9% in the second quarter. Country Club Bank GFN now owns 5,778 shares of the CRM provider’s stock valued at $1,216,000 after purchasing an additional 50 shares during the period. Finally, Summit X LLC boosted its holdings in Salesforce by 4.8% during the second quarter. Summit X LLC now owns 1,084 shares of the CRM provider’s stock worth $229,000 after buying an additional 50 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CRM. Evercore ISI upped their price target on Salesforce from $240.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. Truist Financial reissued a “buy” rating and issued a $275.00 price objective on shares of Salesforce in a research note on Wednesday, October 4th. Barclays raised their price target on shares of Salesforce from $245.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 target price on shares of Salesforce in a report on Friday, September 15th. Finally, The Goldman Sachs Group lowered Salesforce from a “conviction-buy” rating to a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $241.28.

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.