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

Salesforce, Inc. (NYSE:CRMGet Free Report) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $235.71, for a total value of $3,535,650.00. Following the sale, the chief executive officer now owns 12,362,327 shares of the company’s stock, valued at $2,913,924,097.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Thursday, May 30th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00.
  • On Tuesday, May 28th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $269.32, for a total transaction of $4,039,800.00.
  • On Friday, May 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $271.73, for a total value of $4,075,950.00.
  • On Wednesday, May 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $285.00, for a total value of $4,275,000.00.
  • On Monday, May 20th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $286.90, for a total value of $4,303,500.00.
  • On Friday, May 17th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $286.20, for a total transaction of $4,293,000.00.
  • On Wednesday, May 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $284.73, for a total transaction of $4,270,950.00.
  • On Monday, May 13th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $276.84, for a total value of $4,152,600.00.
  • On Friday, May 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $276.59, for a total value of $4,148,850.00.
  • On Wednesday, May 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $278.63, for a total value of $4,179,450.00.

Salesforce Trading Up 2.6 %

CRM stock opened at $242.76 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $235.23 billion, a price-to-earnings ratio of 43.66, a P/E/G ratio of 2.06 and a beta of 1.25. The business has a fifty day moving average price of $276.53 and a 200 day moving average price of $276.05. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the company posted $1.15 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. JMP Securities restated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Monday, April 15th. Canaccord Genuity Group dropped their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Finally, Jefferies Financial Group dropped their price target on Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

View Our Latest Research Report on Salesforce

Institutional Trading of Salesforce

Hedge funds have recently modified their holdings of the stock. Graypoint LLC boosted its position in Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after buying an additional 36 shares during the last quarter. Chase Investment Counsel Corp boosted its holdings in Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares during the last quarter. JFS Wealth Advisors LLC increased its position in Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares during the period. Opes Wealth Management LLC raised its holdings in Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares during the last quarter. Finally, Prentice Wealth Management LLC lifted its position in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors.

About Salesforce

(Get Free Report)

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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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