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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $215.05, for a total value of $3,225,750.00. Following the sale, the chief executive officer now directly owns 15,771,166 shares of the company’s stock, valued at approximately $3,391,589,248.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, September 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $215.54, for a total value of $3,233,100.00.
• On Wednesday, September 13th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $219.71, for a total value of $3,295,650.00.
• On Monday, September 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 stock was 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 stock was 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 shares were 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 shares were 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.

Salesforce Price Performance

CRM traded up $0.70 during midday trading on Tuesday, reaching $215.70. 3,912,695 shares of the company’s stock were exchanged, compared to its average volume of 7,004,511. The firm has a market capitalization of $209.88 billion, a price-to-earnings ratio of 135.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.19. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a one year low of $126.34 and a one year high of $238.22. The business has a 50-day simple moving average of $218.24 and a two-hundred day simple moving average of $206.68.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. The company had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. Salesforce’s quarterly revenue 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. As a group, research analysts predict that Salesforce, Inc. will post 5.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Oppenheimer upped their target price on Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Canaccord Genuity Group increased their price objective on Salesforce from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Loop Capital increased their price objective on Salesforce from $215.00 to $230.00 and gave the company a “hold” rating in a research report on Thursday, August 31st. Mizuho increased their price objective on Salesforce from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Finally, Robert W. Baird increased their price objective on Salesforce from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $240.59.

Institutional Trading of Salesforce

Institutional investors have recently bought and sold shares of the business. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Salesforce by 374.1% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock worth $27,000 after acquiring an additional 101 shares during the period. Union Savings Bank acquired a new stake in Salesforce during the 2nd quarter worth $27,000. NewSquare Capital LLC boosted its position in shares of Salesforce by 132.8% during the first quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 85 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners bought a new position in shares of Salesforce during the fourth quarter worth $36,000. Institutional investors and hedge funds own 77.52% of the company’s stock.

Salesforce Company Profile

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.