Insider Selling: Salesforce, Inc. (NYSE:CRM) CEO Sells 15,000 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $242.49, for a total transaction of $3,637,350.00. Following the sale, the chief executive officer now owns 12,210,327 shares of the company’s stock, valued at $2,960,882,194.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, June 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $241.74, for a total transaction of $3,626,100.00.
• On Tuesday, June 4th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $235.71, for a total transaction of $3,535,650.00.
• 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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.

Salesforce Stock Performance

NYSE CRM opened at $241.09 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $233.62 billion, a price-to-earnings ratio of 43.36, a P/E/G ratio of 2.12 and a beta of 1.26. The company’s fifty day moving average is $272.87 and its two-hundred day moving average is $277.15. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates 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 business posted $1.15 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Thursday, May 30th. Macquarie cut their target price on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. JPMorgan Chase & Co. cut their target price on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Citigroup cut their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, Sanford C. Bernstein raised their price target on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $292.79.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Graypoint LLC lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares during the period. Chase Investment Counsel Corp lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after acquiring an additional 36 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares during the period. Opes Wealth Management LLC lifted its holdings in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares during the period. Finally, Prentice Wealth Management LLC lifted its holdings in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after acquiring an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors.

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.