Salesforce, Inc. (NYSE:CRM) CEO Sells $347,461.00 in Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $151.07, for a total value of $347,461.00. Following the transaction, the chief executive officer now owns 27,761,368 shares in the company, valued at $4,193,909,863.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Wednesday, September 14th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $160.06, for a total value of $368,138.00.
  • On Monday, September 12th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were 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 shares were 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 shares were 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 shares were 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.

Salesforce Trading Up 0.9 %

Shares of NYSE:CRM opened at $152.83 on Tuesday. Salesforce, Inc. has a 52-week low of $149.56 and a 52-week high of $311.75. The company has a market capitalization of $152.83 billion, a P/E ratio of 283.02, a price-to-earnings-growth ratio of 4.11 and a beta of 1.12. The company has a 50-day simple moving average of $173.14 and a 200 day simple moving average of $179.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.06.

Salesforce (NYSE:CRMGet Rating) last issued its earnings results on Wednesday, August 24th. The CRM provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.70 billion. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. Salesforce’s revenue was up 21.8% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. Sell-side 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 buyback program on Wednesday, August 24th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the CRM provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the stock. Vectors Research Management LLC increased its holdings in shares of Salesforce by 128.9% during the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 58 shares during the period. MCF Advisors LLC bought a new position in shares of Salesforce during the first quarter worth approximately $30,000. FSC Wealth Advisors LLC increased its holdings in shares of Salesforce by 1,350.0% during the first quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after purchasing an additional 135 shares during the period. Verity Asset Management Inc. bought a new position in shares of Salesforce during the first quarter worth approximately $35,000. Finally, Retirement Group LLC increased its holdings in shares of Salesforce by 65.5% during the first quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock worth $39,000 after purchasing an additional 72 shares during the period. 77.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRM has been the topic of several recent analyst reports. Wedbush reduced their target price on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Thursday, August 25th. Robert W. Baird reduced their price objective on Salesforce from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Thursday, August 25th. Raymond James reduced their price objective on Salesforce from $250.00 to $225.00 in a report on Thursday, August 25th. Wolfe Research reduced their price objective on Salesforce from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, August 25th. Finally, Canaccord Genuity Group reduced their price objective on Salesforce from $260.00 to $215.00 in a report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.21.

Salesforce Company Profile

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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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