salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff Sells 20,000 Shares

salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 17th. The stock was sold at an average price of $260.03, for a total transaction of $5,200,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

  • On Wednesday, September 15th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $254.95, for a total transaction of $5,099,000.00.
  • On Monday, September 13th, Marc Benioff sold 20,000 shares of salesforce.com stock. The stock was sold at an average price of $253.59, for a total transaction of $5,071,800.00.
  • On Thursday, September 9th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $261.85, for a total transaction of $5,237,000.00.
  • On Tuesday, September 7th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $265.43, for a total transaction of $5,308,600.00.
  • On Friday, September 3rd, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $265.34, for a total transaction of $5,306,800.00.
  • On Wednesday, September 1st, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $269.36, for a total transaction of $5,387,200.00.
  • On Monday, August 30th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $265.86, for a total transaction of $5,317,200.00.
  • On Friday, August 27th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $267.44, for a total transaction of $5,348,800.00.
  • On Tuesday, August 24th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $260.77, for a total value of $5,215,400.00.
  • On Friday, August 20th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $256.02, for a total value of $5,120,400.00.

Shares of salesforce.com stock opened at $258.22 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93. salesforce.com, inc. has a 52 week low of $201.51 and a 52 week high of $275.22. The stock has a 50 day moving average price of $252.41 and a two-hundred day moving average price of $236.55. The stock has a market capitalization of $252.80 billion, a PE ratio of 103.70, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.56. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. Research analysts forecast that salesforce.com, inc. will post 2.09 EPS for the current year.

A number of research firms recently commented on CRM. Redburn Partners began coverage on salesforce.com in a report on Monday, June 28th. They set a “buy” rating and a $320.00 price target for the company. They noted that the move was a valuation call. Oppenheimer lifted their price target on salesforce.com from $265.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. Wedbush raised their price objective on shares of salesforce.com from $300.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. Roth Capital raised their price objective on shares of salesforce.com from $200.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, August 26th. Finally, Truist Securities raised their price objective on shares of salesforce.com from $287.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $299.22.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of salesforce.com by 0.4% during the second quarter. Vanguard Group Inc. now owns 71,205,534 shares of the CRM provider’s stock valued at $17,393,375,000 after buying an additional 299,606 shares during the last quarter. State Street Corp boosted its position in shares of salesforce.com by 1.7% during the second quarter. State Street Corp now owns 41,409,350 shares of the CRM provider’s stock valued at $10,115,062,000 after buying an additional 707,629 shares during the last quarter. Morgan Stanley boosted its position in shares of salesforce.com by 20.2% during the second quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock valued at $4,046,065,000 after buying an additional 2,787,393 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of salesforce.com by 3.8% during the second quarter. Geode Capital Management LLC now owns 13,774,687 shares of the CRM provider’s stock valued at $3,353,737,000 after buying an additional 499,029 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of salesforce.com by 3.6% during the second quarter. Fisher Asset Management LLC now owns 13,420,800 shares of the CRM provider’s stock valued at $3,278,299,000 after buying an additional 467,815 shares during the last quarter. 77.33% of the stock is currently owned by institutional investors.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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