Insider Selling: Salesforce, Inc. (NYSE:CRM) CEO Sells $3,626,100.00 in Stock

Salesforce, Inc. (NYSE:CRMGet Free Report) CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Friday, June 7th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $242.49, for a total transaction of $3,637,350.00.
  • On Tuesday, June 4th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $235.71, for a total transaction of $3,535,650.00.
  • 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.

Salesforce Stock Down 2.9 %

Salesforce stock opened at $229.03 on Friday. The company’s 50-day moving average price is $270.19 and its two-hundred day moving average price is $276.53. The stock has a market cap of $221.93 billion, a price-to-earnings ratio of 41.19, a PEG ratio of 2.12 and a beta of 1.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. On average, analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Salesforce

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CRM shares. Morgan Stanley reduced their price objective on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price objective on shares of Salesforce in a research note on Friday, May 24th. Mizuho reduced their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Piper Sandler reduced their price target on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Check Out Our Latest Analysis on Salesforce

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 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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