Insider Selling: Salesforce, Inc. (NYSE:CRM) CEO Sells 15,000 Shares of Stock

Salesforce, Inc. (NYSE:CRMGet Free Report) CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $292.43, for a total value of $4,386,450.00. Following the transaction, the chief executive officer now directly owns 13,521,166 shares of the company’s stock, valued at approximately $3,953,994,573.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Wednesday, February 7th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $288.30, for a total value of $4,324,500.00.
  • On Monday, February 5th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $285.82, for a total value of $4,287,300.00.
  • On Wednesday, January 31st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $282.95, for a total value of $4,244,250.00.
  • On Monday, January 29th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $285.05, for a total value of $4,275,750.00.
  • On Friday, January 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $280.79, for a total value of $4,211,850.00.
  • On Wednesday, January 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $278.62, for a total transaction of $4,179,300.00.
  • On Monday, January 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $282.55, for a total transaction of $4,238,250.00.
  • On Thursday, January 18th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $274.01, for a total transaction of $4,110,150.00.
  • On Tuesday, January 16th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $269.77, for a total transaction of $4,046,550.00.
  • On Friday, January 12th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $272.69, for a total transaction of $4,090,350.00.

Salesforce Stock Performance

Shares of CRM stock traded down $3.76 during trading hours on Monday, hitting $287.54. The stock had a trading volume of 3,749,198 shares, compared to its average volume of 5,104,128. The firm has a market capitalization of $278.34 billion, a PE ratio of 110.46, a PEG ratio of 1.87 and a beta of 1.28. Salesforce, Inc. has a twelve month low of $159.65 and a twelve month high of $295.24. The stock’s 50 day moving average is $268.45 and its 200 day moving average is $232.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings data on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.71 billion. Salesforce had a return on equity of 9.19% and a net margin of 7.63%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 6.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Salesforce

Several hedge funds have recently modified their holdings of CRM. Bank of Nova Scotia Trust Co. boosted its holdings in Salesforce by 18.2% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 20,579 shares of the CRM provider’s stock valued at $5,415,000 after purchasing an additional 3,166 shares in the last quarter. J. L. Bainbridge & Co. Inc. purchased a new stake in Salesforce in the 4th quarter valued at approximately $203,000. Evoke Wealth LLC boosted its holdings in Salesforce by 2.1% in the 4th quarter. Evoke Wealth LLC now owns 3,795 shares of the CRM provider’s stock valued at $999,000 after purchasing an additional 79 shares in the last quarter. Parnassus Investments LLC boosted its holdings in Salesforce by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares in the last quarter. Finally, Claret Asset Management Corp purchased a new stake in Salesforce in the 4th quarter valued at approximately $231,000. 77.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Argus lifted their target price on shares of Salesforce from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target for the company in a research report on Monday, December 18th. BMO Capital Markets lifted their price target on shares of Salesforce from $252.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, November 30th. Truist Financial reiterated a “buy” rating and set a $275.00 price target on shares of Salesforce in a research report on Thursday, November 30th. Finally, Mizuho lifted their price target on shares of Salesforce from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. Nine analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.03.

View Our Latest Analysis on CRM

About Salesforce

(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 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.

Further Reading

Insider Buying and Selling by Quarter for Salesforce (NYSE:CRM)

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