Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $213.73, for a total value of $3,205,950.00. Following the transaction, the chief executive officer now directly owns 15,951,166 shares in the company, valued at $3,409,242,709.18. 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 Monday, August 28th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $211.11, for a total value of $3,166,650.00.
- On Thursday, August 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $207.29, for a total value of $3,109,350.00.
- On Tuesday, August 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $207.65, for a total value of $3,114,750.00.
- On Thursday, August 17th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $205.12, for a total value of $3,076,800.00.
- On Monday, August 14th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $210.43, for a total value of $3,156,450.00.
- On Friday, August 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $208.33, for a total value of $3,124,950.00.
- On Wednesday, August 9th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $207.42, for a total value of $3,111,300.00.
- On Monday, August 7th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $215.68, for a total value of $3,235,200.00.
- On Friday, August 4th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $215.15, for a total value of $3,227,250.00.
- On Wednesday, August 2nd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $220.73, for a total value of $3,310,950.00.
Salesforce Stock Down 0.0 %
CRM stock opened at $221.39 on Friday. The company has a market cap of $215.63 billion, a price-to-earnings ratio of 582.62, a PEG ratio of 2.09 and a beta of 1.20. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a 12 month low of $126.34 and a 12 month high of $238.22. The firm has a 50-day moving average of $216.21 and a two-hundred day moving average of $202.26.
Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The CRM provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a net margin of 1.18% and a return on equity of 5.75%. Salesforce’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, analysts forecast that Salesforce, Inc. will post 5.27 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Salesforce
Hedge funds have recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Salesforce by 374.1% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock valued at $27,000 after buying an additional 101 shares during the period. Union Savings Bank purchased a new position in Salesforce in the 2nd quarter valued at approximately $27,000. NewSquare Capital LLC boosted its position in Salesforce by 132.8% in the 1st quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock valued at $30,000 after buying an additional 85 shares during the period. GHP Investment Advisors Inc. boosted its position in Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after buying an additional 63 shares during the period. Finally, Live Oak Investment Partners purchased a new position in Salesforce in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 77.52% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on CRM shares. StockNews.com raised Salesforce from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Stifel Nicolaus increased their price target on Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho increased their price target on Salesforce from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday. Sanford C. Bernstein increased their price target on Salesforce from $145.00 to $153.00 in a research report on Thursday, June 1st. Finally, Loop Capital increased their price target on Salesforce from $215.00 to $230.00 and gave the stock a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $237.43.
Read Our Latest Stock Analysis on Salesforce
About Salesforce
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 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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