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 firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $162.57, for a total transaction of $373,911.00. Following the completion of the sale, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at approximately $4,513,165,595.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • 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 transaction of $388,815.00.
  • On Wednesday, August 24th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $179.53, for a total transaction of $412,919.00.
  • On Monday, August 22nd, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $177.43, for a total transaction 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 transaction of $421,498.00.
  • On Wednesday, August 17th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $187.79, for a total transaction of $431,917.00.
  • On Monday, August 15th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $190.69, for a total transaction of $438,587.00.
  • On Thursday, August 11th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $188.29, for a total transaction of $433,067.00.
  • On Tuesday, August 9th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $182.29, for a total transaction of $419,267.00.
  • On Thursday, August 4th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $189.53, for a total transaction of $435,919.00.
  • On Monday, August 1st, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $183.12, for a total transaction of $421,176.00.

Salesforce Stock Performance

CRM stock traded down $2.41 during trading on Tuesday, hitting $151.28. 42,860 shares of the company’s stock traded hands, compared to its average volume of 6,949,406. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 52 week low of $150.87 and a 52 week high of $311.75. The stock has a fifty day moving average price of $177.25 and a two-hundred day moving average price of $184.12. The stock has a market capitalization of $151.28 billion, a price-to-earnings ratio of 284.61, a price-to-earnings-growth ratio of 4.17 and a beta of 1.12.

Salesforce (NYSE:CRMGet Rating) last released its earnings results on Wednesday, August 24th. The CRM provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 2.2 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CRM shares. Piper Sandler decreased their target price on shares of Salesforce from $220.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, August 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Salesforce from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. Wedbush decreased their target price on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Wolfe Research decreased their target price on shares of Salesforce from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Finally, Canaccord Genuity Group reduced their price target on shares of Salesforce from $260.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. Five equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $244.11.

Institutional Trading of Salesforce

Several institutional investors have recently added to or reduced their stakes in CRM. Vectors Research Management LLC grew its position 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 acquiring an additional 58 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Salesforce during the fourth quarter worth about $27,000. MCF Advisors LLC bought a new position in shares of Salesforce during the first quarter worth about $30,000. FSC Wealth Advisors LLC grew its position 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 acquiring an additional 135 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Salesforce in the fourth quarter worth about $42,000. Institutional investors own 77.02% of the company’s stock.

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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