Trading Report: The Salesforce.com Inc. (CRM) CEO Sells $904,125.00 in Stock

The Salesforce.com Inc. (CRM) CEO Sells $904,125.00 in Stock

Salesforce.com Inc. (NYSE:CRM) CEO Marc Benioff sold 12,500 shares of the business’s stock in a transaction on Wednesday, October 12th. The stock was sold at an average price of $72.33, for a total value of $904,125.00. Following the sale, the chief executive officer now owns 34,983,000 shares of the company’s stock, valued at approximately $2,530,320,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Marc Benioff also recently made the following trade(s): On Tuesday, October 11th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The stock was sold at an average price of $73.75, for a total value of $1,843,750.00. On Friday, October 7th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $70.96, for a total value of $887,000.00. On Thursday, October 6th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $71.17, for a total value of $889,625.00. On Wednesday, October 5th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $67.76, for a total value of $847,000.00. On Tuesday, October 4th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The stock was sold at an average price of $70.90, for a total value of $1,772,500.00. On Friday, September 30th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The stock was sold at an average price of $71.53, for a total value of $1,788,250.00. On Wednesday, September 28th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $71.04, for a total value of $888,000.00. On Tuesday, September 27th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $70.13, for a total value of $876,625.00. On Monday, September 26th, Marc Benioff sold 37,500 shares of Salesforce.com stock. The stock was sold at an average price of $71.95, for a total value of $2,698,125.00. On Wednesday, September 21st, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $73.39, for a total value of $917,375.00.

Salesforce.com Inc. (NYSE:CRM) traded down 0.26% during midday trading on Wednesday, hitting $72.23. 6,301,780 shares of the company were exchanged. Salesforce.com Inc. has a 1-year low of $52.60 and a 1-year high of $84.48. The stock has a 50 day moving average of $73.98 and a 200-day moving average of $77.72. The stock has a market capitalization of $49.48 billion, a price-to-earnings ratio of 222.93 and a beta of 1.59.

Salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Soroban Capital Partners LP acquired a new position in shares of Salesforce.com during the first quarter worth $290,380,000. Vanguard Group Inc. increased its position in shares of Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock worth $3,130,829,000 after buying an additional 1,181,756 shares in the last quarter. American Century Companies Inc. increased its position in shares of Salesforce.com by 54.4% in the second quarter. American Century Companies Inc. now owns 3,297,549 shares of the CRM provider’s stock worth $261,858,000 after buying an additional 1,161,596 shares in the last quarter. Waddell & Reed Financial Inc. boosted its stake in Salesforce.com by 489.5% in the second quarter. Waddell & Reed Financial Inc. now owns 1,384,048 shares of the CRM provider’s stock worth $109,908,000 after buying an additional 1,149,275 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. purchased a new stake in Salesforce.com during the first quarter worth approximately $72,518,000. 87.23% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on CRM shares. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $98.00 price objective on shares of Salesforce.com in a research note on Tuesday, June 14th. BMO Capital Markets started coverage on Salesforce.com in a research note on Tuesday, June 14th. They set an “outperform” rating and a $98.00 price objective for the company. Vetr raised Salesforce.com from a “strong sell” rating to a “strong-buy” rating and set a $97.12 price objective for the company in a research note on Tuesday, June 14th. Cowen and Company initiated coverage on Salesforce.com in a research note on Friday, June 24th. They issued an “outperform” rating and a $79.39 target price for the company. Finally, Brean Capital reissued a “buy” rating and issued a $110.00 target price on shares of Salesforce.com in a research note on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $92.51.

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