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 stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $179.86, for a total value of $413,678.00. Following the completion of the transaction, the chief executive officer now owns 28,926,000 shares in the company, valued at approximately $5,202,630,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Wednesday, April 27th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $174.69, for a total transaction of $401,787.00.
  • On Friday, April 22nd, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $173.83, for a total transaction of $399,809.00.
  • On Wednesday, April 20th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $187.87, for a total transaction of $432,101.00.
  • On Monday, April 18th, Marc Benioff sold 9,419 shares of Salesforce stock. The shares were sold at an average price of $187.94, for a total value of $1,770,206.86.
  • On Wednesday, April 13th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $194.38, for a total transaction of $447,074.00.
  • On Monday, April 11th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $194.92, for a total value of $448,316.00.
  • On Friday, April 8th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $198.43, for a total value of $456,389.00.
  • On Wednesday, April 6th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $200.68, for a total transaction of $461,564.00.
  • On Monday, April 4th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $218.64, for a total transaction of $502,872.00.
  • On Friday, April 1st, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $211.58, for a total transaction of $486,634.00.

Shares of Salesforce stock opened at $177.57 on Tuesday. The company’s fifty day simple moving average is $199.62 and its two-hundred day simple moving average is $236.85. Salesforce, Inc. has a 12-month low of $167.55 and a 12-month high of $311.75. The firm has a market cap of $175.79 billion, a PE ratio of 118.38, a price-to-earnings-growth ratio of 5.01 and a beta of 1.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

Salesforce (NYSE:CRMGet Rating) last posted its earnings results on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.12. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Salesforce had a return on equity of 4.76% and a net margin of 5.45%. Salesforce’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. As a group, sell-side analysts expect that Salesforce, Inc. will post 2.1 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Salesforce from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Wednesday, March 2nd. Royal Bank of Canada set a $325.00 target price on Salesforce in a research note on Wednesday, March 2nd. The Goldman Sachs Group set a $360.00 price target on Salesforce and gave the stock a “buy” rating in a research note on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Salesforce from $360.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, January 21st. Finally, Stifel Nicolaus cut their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, March 2nd. Seven equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Buy” and a consensus price target of $299.50.

Several institutional investors and hedge funds have recently bought and sold shares of CRM. Vectors Research Management LLC boosted its holdings in Salesforce by 128.9% in the fourth 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. Retirement Planning Co of New England Inc. purchased a new stake in shares of Salesforce in the 4th quarter worth about $27,000. Financial Enhancement Group LLC boosted its stake in shares of Salesforce by 589.5% during the 4th quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 112 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Salesforce during the fourth quarter valued at about $35,000. Finally, MCF Advisors LLC bought a new position in Salesforce in the third quarter worth about $39,000. 77.75% of the stock is currently owned by hedge funds and other institutional investors.

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.

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