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

Salesforce, Inc. (NYSE:CRMGet Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the sale, the chief executive officer now directly owns 12,362,327 shares in the company, valued at approximately $2,913,924,097.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 shares were 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 shares were sold at an average price of $271.73, for a total transaction of $4,075,950.00.
  • On Wednesday, May 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $285.00, for a total transaction 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 transaction 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 transaction of $4,152,600.00.
  • On Friday, May 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $276.59, for a total transaction of $4,148,850.00.
  • On Wednesday, May 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $278.63, for a total transaction of $4,179,450.00.

Salesforce Price Performance

Shares of CRM opened at $236.53 on Thursday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a market capitalization of $229.20 billion, a price-to-earnings ratio of 42.54, a price-to-earnings-growth ratio of 2.06 and a beta of 1.25. The firm has a 50-day simple moving average of $277.69 and a 200-day simple moving average of $276.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CRM. Piper Sandler dropped their price target on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Macquarie dropped their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Bank of America boosted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Sanford C. Bernstein boosted their price target on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Finally, Wolfe Research restated an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $292.79.

View Our Latest Stock Analysis on CRM

Institutional Investors Weigh In On Salesforce

Several hedge funds have recently made changes to their positions in the business. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce in the fourth quarter valued at about $26,000. Ruedi Wealth Management Inc. lifted its position in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the fourth quarter valued at about $31,000. Finally, Pacifica Partners Inc. lifted its position in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Company Profile

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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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