Salesforce, Inc. (NYSE:CRM) CEO Sells $3,535,650.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the transaction, the chief executive officer now directly owns 12,362,327 shares in the company, valued at approximately $2,913,924,097.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, May 30th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $276.84, for a total transaction of $4,152,600.00.
• On Friday, May 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $276.59, for a total transaction of $4,148,850.00.
• On Wednesday, May 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $278.63, for a total transaction of $4,179,450.00.

Salesforce Stock Up 0.7 %

CRM stock traded up $1.67 during mid-day trading on Wednesday, hitting $236.53. 10,738,762 shares of the company were exchanged, compared to its average volume of 6,554,687. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $229.20 billion, a P/E ratio of 41.76, a P/E/G ratio of 2.07 and a beta of 1.25. The firm’s 50 day simple moving average is $278.99 and its 200 day simple moving average is $276.57. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $1.15 EPS. On average, sell-side analysts predict that Salesforce, Inc. will post 7.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Oppenheimer decreased their price objective on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Citigroup decreased their price objective on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $292.79.

Institutional Trading of Salesforce

Hedge funds have recently bought and sold shares of the stock. Bear Mountain Capital Inc. bought a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Ruedi Wealth Management Inc. grew its stake in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Pacifica Partners Inc. grew its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Company Profile

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.