Salesforce, Inc. (NYSE:CRM) CEO Sells $100,912.75 in Stock

Salesforce, Inc. (NYSE:CRM - Get Rating) CEO Marc Benioff sold 725 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $139.19, for a total value of $100,912.75. Following the transaction, the chief executive officer now owns 27,753,609 shares in the company, valued at approximately $3,863,024,836.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

On Wednesday, November 2nd, Marc Benioff sold 7,759 shares of Salesforce stock. The stock was sold at an average price of $153.50, for a total value of $1,191,006.50.

On Monday, October 31st, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $162.80, for a total value of $374,440.00.

On Friday, October 28th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $161.05, for a total value of $370,415.00.

On Wednesday, October 26th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $161.51, for a total value of $371,473.00.

On Friday, October 21st, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $158.21, for a total value of $363,883.00.

On Wednesday, October 19th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $153.68, for a total value of $353,464.00.

On Monday, October 17th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $147.51, for a total value of $339,273.00.

On Thursday, October 13th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $142.99, for a total value of $328,877.00.

On Tuesday, October 11th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $142.30, for a total value of $327,290.00.

On Friday, October 7th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $150.93, for a total value of $347,139.00.

Salesforce Stock Performance

CRM stock traded down $3.25 during trading on Thursday, hitting $136.34. The company had a trading volume of 8,478,790 shares, compared to its average volume of 10,332,530. The firm has a market cap of $136.34 billion, a PE ratio of 498.54, a price-to-earnings-growth ratio of 3.38 and a beta of 1.15. Salesforce, Inc. has a 1-year low of $126.34 and a 1-year high of $239.28. The firm has a 50-day moving average price of $142.80 and a 200-day moving average price of $158.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16.

Salesforce (NYSE:CRM - Get Rating) last issued its quarterly earnings results on Wednesday, November 30th. The CRM provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.19. The firm had revenue of $7.84 billion for the quarter, compared to analysts' expectations of $7.83 billion. Salesforce had a return on equity of 3.21% and a net margin of 0.92%. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, analysts expect that Salesforce, Inc. will post 2.38 earnings per share for the current year.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently added to or reduced their stakes in the stock. Oak Harvest Investment Services boosted its holdings in Salesforce by 1.1% in the 2nd quarter. Oak Harvest Investment Services now owns 32,360 shares of the CRM provider's stock valued at $5,341,000 after purchasing an additional 339 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Salesforce by 40.3% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,383 shares of the CRM provider's stock valued at $393,000 after purchasing an additional 685 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Salesforce by 1,014.8% in the 2nd quarter. Verition Fund Management LLC now owns 32,386 shares of the CRM provider's stock valued at $5,345,000 after purchasing an additional 29,481 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Salesforce by 41.2% in the 2nd quarter. HB Wealth Management LLC now owns 9,760 shares of the CRM provider's stock valued at $1,611,000 after purchasing an additional 2,847 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its holdings in Salesforce by 6.6% in the 3rd quarter. Archford Capital Strategies LLC now owns 4,736 shares of the CRM provider's stock valued at $681,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 75.83% of the company's stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Northland Securities initiated coverage on Salesforce in a research note on Monday, October 17th. They set a "market perform" rating and a $150.00 target price for the company. Stifel Nicolaus lowered their price target on Salesforce from $200.00 to $185.00 in a research report on Monday, November 28th. Credit Suisse Group lowered their price target on Salesforce from $250.00 to $225.00 and set an "outperform" rating for the company in a research report on Monday, December 5th. Atlantic Securities lowered their price target on Salesforce from $225.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, December 1st. Finally, Macquarie restated an "outperform" rating and set a $210.00 price target on shares of Salesforce in a research report on Wednesday, November 2nd. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $195.24.

About Salesforce

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.

Further Reading

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