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 stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $160.06, for a total value of $368,138.00. Following the completion of the transaction, the chief executive officer now owns 27,761,368 shares in the company, valued at $4,443,484,562.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

  • On Monday, September 12th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $164.15, for a total value 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 value 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 value 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 value 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 value 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 value 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 value of $421,498.00.
  • On Wednesday, August 17th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $187.79, for a total value of $431,917.00.
  • On Monday, August 15th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $190.69, for a total value of $438,587.00.
  • On Thursday, August 11th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $188.29, for a total value of $433,067.00.

Salesforce Trading Down 2.1 %

Shares of NYSE:CRM opened at $151.51 on Friday. Salesforce, Inc. has a 12-month low of $149.56 and a 12-month high of $311.75. The stock has a market cap of $151.51 billion, a PE ratio of 280.57, a P/E/G ratio of 4.35 and a beta of 1.12. The business has a 50 day moving average of $173.62 and a 200-day moving average of $180.58. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16.

Salesforce (NYSE:CRMGet Rating) last issued its quarterly earnings data on Wednesday, August 24th. The CRM provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast that Salesforce, Inc. will post 2.2 earnings per share for the current year.

Salesforce announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 24th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the CRM provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Salesforce

Several institutional investors have recently made changes to their positions in CRM. Vectors Research Management LLC boosted its stake in shares of 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 buying an additional 58 shares during the period. MCF Advisors LLC bought a new stake in shares of Salesforce in the first quarter valued at approximately $30,000. FSC Wealth Advisors LLC boosted its stake in shares of 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 during the period. Verity Asset Management Inc. bought a new stake in shares of Salesforce in the first quarter valued at approximately $35,000. Finally, Retirement Group LLC raised its position in Salesforce by 65.5% during the first quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock valued at $39,000 after purchasing an additional 72 shares in the last quarter. 77.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRM. Canaccord Genuity Group dropped their price target on Salesforce from $260.00 to $215.00 in a research note on Thursday, August 25th. Canaccord Genuity Group dropped their price target on Salesforce from $260.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Piper Sandler dropped their price target on Salesforce from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, August 25th. JPMorgan Chase & Co. dropped their price target on Salesforce from $275.00 to $245.00 and set an “overweight” rating on the stock in a research note on Thursday, August 25th. Finally, Robert W. Baird dropped their price target on Salesforce from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Thursday, August 25th. Five research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $243.21.

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.