Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff Sells 2,300 Shares

Salesforce, Inc. (NYSE:CRMGet Rating) CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $150.29, for a total transaction of $345,667.00. Following the transaction, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at $4,172,255,996.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Monday, September 19th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $151.79, for a total transaction of $349,117.00.
  • On Friday, September 16th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $151.07, for a total transaction of $347,461.00.
  • 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 transaction of $368,138.00.
  • 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 transaction 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 shares were sold at an average price of $183.26, for a total value of $421,498.00.

Salesforce Stock Performance

CRM traded up $2.52 on Thursday, hitting $150.15. The company had a trading volume of 12,389,646 shares, compared to its average volume of 7,277,860. The company’s fifty day moving average price is $172.06 and its 200 day moving average price is $179.01. Salesforce, Inc. has a 1-year low of $147.51 and a 1-year high of $311.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $150.15 billion, a price-to-earnings ratio of 278.20, a price-to-earnings-growth ratio of 4.07 and a beta of 1.12.

Salesforce (NYSE:CRMGet Rating) last issued its quarterly earnings results on Wednesday, August 24th. The CRM provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.37 by $0.15. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.70 billion. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. Equities analysts predict that Salesforce, Inc. will post 2.2 earnings per share for the current fiscal year.

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

Institutional Trading of Salesforce

A number of institutional investors and hedge funds have recently modified their holdings of CRM. Vectors Research Management LLC lifted its stake 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 valued at $26,000 after acquiring an additional 58 shares during the period. MCF Advisors LLC acquired a new position in shares of Salesforce during the first quarter valued at $30,000. FSC Wealth Advisors LLC lifted its stake 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 valued at $31,000 after acquiring an additional 135 shares during the period. Verity Asset Management Inc. acquired a new position in shares of Salesforce during the first quarter valued at $35,000. Finally, Retirement Group LLC lifted its stake in shares of 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 acquiring an additional 72 shares during the period. 77.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Oppenheimer restated a “buy” rating and set a $240.00 price objective on shares of Salesforce in a research note on Thursday. Piper Sandler cut their price objective on shares of Salesforce from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, August 25th. Barclays cut their price objective on shares of Salesforce from $218.00 to $202.00 and set an “overweight” rating on the stock in a research note on Thursday, August 25th. Mizuho cut their price objective on shares of Salesforce from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Finally, Loop Capital cut their price objective on shares of Salesforce from $225.00 to $175.00 and set a “hold” rating on the stock in a research note on Thursday, June 2nd. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $242.71.

About Salesforce

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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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