Salesforce, Inc. (NYSE:CRM) CEO Sells $3,295,650.00 in Stock

Posted by Defense World Staff on Sep 17th, 2023

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $219.71, for a total value of $3,295,650.00. Following the sale, the chief executive officer now directly owns 15,816,166 shares in the company, valued at approximately $3,474,969,831.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

On Monday, September 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $224.81, for a total value of $3,372,150.00.
On Thursday, September 7th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $221.70, for a total value of $3,325,500.00.
On Tuesday, September 5th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $219.08, for a total value of $3,286,200.00.
On Friday, September 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $221.78, for a total value of $3,326,700.00.
On Wednesday, August 30th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $213.73, for a total value of $3,205,950.00.
On Monday, August 28th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $211.11, for a total value of $3,166,650.00.
On Thursday, August 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $207.29, for a total value of $3,109,350.00.
On Tuesday, August 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $207.65, for a total value of $3,114,750.00.
On Thursday, August 17th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $205.12, for a total value of $3,076,800.00.
On Monday, August 14th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $210.43, for a total value of $3,156,450.00.

Salesforce Stock Performance

NYSE CRM opened at $214.61 on Friday. The stock’s fifty day moving average is $218.24 and its two-hundred day moving average is $206.41. The firm has a market capitalization of $208.82 billion, a P/E ratio of 134.97, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. Salesforce, Inc. has a fifty-two week low of $126.34 and a fifty-two week high of $238.22.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.22. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 5.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRM. Robert W. Baird raised their price objective on Salesforce from $210.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. Canaccord Genuity Group raised their price objective on Salesforce from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. Stifel Nicolaus raised their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. TD Cowen lifted their price target on Salesforce from $210.00 to $230.00 and gave the company a “market perform” rating in a research report on Thursday, August 31st. Finally, Loop Capital lifted their price target on Salesforce from $215.00 to $230.00 and gave the company a “hold” rating in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.59.

Check Out Our Latest Report on Salesforce

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Bank Julius Baer & Co. Ltd Zurich raised its position in Salesforce by 92,823.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 238,763,957 shares of the CRM provider’s stock valued at $50,441,274,000 after purchasing an additional 238,507,009 shares during the period. Norges Bank purchased a new stake in Salesforce in the fourth quarter valued at $1,420,381,000. Moneta Group Investment Advisors LLC raised its position in Salesforce by 125,717.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after purchasing an additional 10,252,257 shares during the period. Capital International Investors raised its position in Salesforce by 1,151.2% in the second quarter. Capital International Investors now owns 7,117,212 shares of the CRM provider’s stock valued at $1,503,547,000 after purchasing an additional 6,548,396 shares during the period. Finally, Capital World Investors raised its holdings in shares of Salesforce by 30.2% in the 2nd quarter. Capital World Investors now owns 19,242,436 shares of the CRM provider’s stock valued at $4,065,157,000 after buying an additional 4,458,227 shares during the period. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Salesforce Company Profile

(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 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.