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 Salesforce stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $285.05, for a total value of $4,275,750.00. Following the completion of the transaction, the chief executive officer now directly owns 13,656,166 shares in the company, valued at $3,892,690,118.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

  • 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 stock was sold at an average price of $278.62, for a total value 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 value of $4,238,250.00.
  • On Thursday, January 18th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $274.01, for a total value 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 value 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 value of $4,090,350.00.
  • On Wednesday, January 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $264.24, for a total value of $3,963,600.00.
  • On Monday, January 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $258.59, for a total value of $3,878,850.00.
  • On Thursday, January 4th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $251.61, for a total value of $3,774,150.00.
  • On Tuesday, January 2nd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $256.24, for a total value of $3,843,600.00.

Salesforce Price Performance

CRM stock traded down $0.17 during mid-day trading on Tuesday, reaching $287.69. 4,808,189 shares of the company’s stock were exchanged, compared to its average volume of 5,542,100. 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, Inc. has a 12-month low of $159.65 and a 12-month high of $289.29. The stock’s 50 day moving average is $258.53 and its 200 day moving average is $228.86. The company has a market cap of $278.48 billion, a price-to-earnings ratio of 109.68, a price-to-earnings-growth ratio of 2.16 and a beta of 1.28.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings results on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Salesforce had a net margin of 7.63% and a return on equity of 9.19%. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts expect that Salesforce, Inc. will post 6.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRM. Argus upped their price objective on Salesforce from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Robert W. Baird upped their price objective on Salesforce from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Tuesday, January 23rd. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $290.00 to $350.00 in a research report on Thursday, December 21st. The Goldman Sachs Group cut Salesforce from a “conviction-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, KeyCorp reduced their price objective on Salesforce from $272.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, November 22nd. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Check Out Our Latest Stock Analysis on Salesforce

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $26,000. Union Savings Bank acquired a new stake in Salesforce during the 2nd quarter worth $27,000. Pacifica Partners Inc. grew its holdings in shares of Salesforce by 333.3% during 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 in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Salesforce in the fourth quarter worth about $34,000. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after buying an additional 63 shares in the last quarter. 77.52% of the stock is owned by hedge funds and other institutional investors.

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 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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