Salesforce, Inc. (NYSE:CRM) CEO Sells $349,117.00 in Stock

Salesforce, Inc. (NYSE:CRMGet Rating) CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $151.79, for a total transaction of $349,117.00. Following the sale, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at approximately $4,213,898,048.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

  • On Wednesday, September 21st, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $150.29, for a total transaction of $345,667.00.
  • On Friday, September 16th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $151.07, for a total transaction of $347,461.00.
  • On Wednesday, September 14th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $160.06, for a total transaction of $368,138.00.
  • On Monday, September 12th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $164.15, for a total transaction of $377,545.00.
  • On Thursday, September 8th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $155.51, for a total transaction of $357,673.00.
  • On Monday, August 29th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $162.57, for a total transaction of $373,911.00.
  • On Friday, August 26th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $169.05, for a total transaction of $388,815.00.
  • On Wednesday, August 24th, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $179.53, for a total transaction of $412,919.00.
  • On Monday, August 22nd, Marc Benioff sold 2,300 shares of Salesforce stock. The shares were sold at an average price of $177.43, for a total transaction of $408,089.00.
  • On Friday, August 19th, Marc Benioff sold 2,300 shares of Salesforce stock. The stock was sold at an average price of $183.26, for a total transaction of $421,498.00.

Salesforce Stock Up 1.7 %

Salesforce stock opened at $150.15 on Friday. The stock has a market cap of $150.15 billion, a P/E ratio of 278.06, a P/E/G ratio of 4.07 and a beta of 1.12. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a twelve month low of $147.51 and a twelve month high of $311.75. The company’s 50-day moving average price is $171.85 and its two-hundred day moving average price is $178.69.

Salesforce (NYSE:CRMGet Rating) last announced its earnings results on Wednesday, August 24th. The CRM provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Salesforce had a net margin of 1.83% and a return on equity of 3.32%. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue was up 21.8% compared to the same quarter last year. As a group, analysts expect that Salesforce, Inc. will post 2.2 EPS for the current year.

Salesforce declared that its Board of Directors has initiated a share buyback program on Wednesday, August 24th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the CRM provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRM. Oppenheimer reaffirmed a “buy” rating and issued a $240.00 target price on shares of Salesforce in a research note on Thursday. Cowen reduced their target price on shares of Salesforce from $225.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, August 25th. Mizuho reduced their target price on shares of Salesforce from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. William Blair reaffirmed an “outperform” rating on shares of Salesforce in a research note on Wednesday, June 1st. Finally, BMO Capital Markets cut their price target on shares of Salesforce from $207.00 to $190.00 in a research report on Thursday. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $242.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vectors Research Management LLC grew its position in shares of Salesforce by 128.9% during the 4th quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 58 shares in the last quarter. MCF Advisors LLC acquired a new stake in shares of Salesforce during the 1st quarter worth approximately $30,000. FSC Wealth Advisors LLC boosted its position in shares of Salesforce by 1,350.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after acquiring an additional 135 shares in the last quarter. Verity Asset Management Inc. acquired a new stake in shares of Salesforce during the 1st quarter worth approximately $35,000. Finally, Retirement Group LLC boosted its position in shares of Salesforce by 65.5% during the 1st quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock worth $39,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 77.02% of the company’s stock.

About Salesforce

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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.

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