Trade Report: Today, 12,500 Shares of Stock are sold by Salesforce.com Inc. (CRM) Chairman Marc Benioff

Today, 12,500 Shares of Stock are sold by Salesforce.com Inc. (CRM) Chairman Marc Benioff

Salesforce.com Inc. (NYSE:CRM) Chairman Marc Benioff sold 12,500 shares of the stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $70.87, for a total value of $885,875.00. Following the sale, the chairman now directly owns 34,970,500 shares in the company, valued at $2,478,359,335. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Marc Benioff also recently made the following trade(s): On Friday, October 14th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $72.32, for a total value of $904,000.00. On Wednesday, October 12th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The stock was sold at an average price of $72.33, for a total value of $904,125.00. 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.

Salesforce.com Inc. (NYSE:CRM) opened at 74.27 on Monday. The company has a 50-day moving average price of $73.60 and a 200 day moving average price of $77.68. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The stock has a market capitalization of $50.87 billion, a price-to-earnings ratio of 229.23 and a beta of 1.59.

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

Several research firms have recently commented on CRM. Robert W. Baird reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Salesforce.com in a research note on Wednesday, October 12th. Cowen and Company reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Wednesday, October 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $95.00 price objective on shares of Salesforce.com in a research note on Wednesday, October 12th. JMP Securities reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Salesforce.com in a research note on Monday, October 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Salesforce.com in a research note on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $92.51.

Several large investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its stake in shares of Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock valued at $16,360,000 after buying an additional 2,648 shares during the period. Bank of Montreal Can purchased a new stake in shares of Salesforce.com during the second quarter valued at approximately $31,592,000. Soroban Capital Partners LP purchased a new stake in shares of Salesforce.com during the first quarter valued at approximately $290,380,000. Tybourne Capital Management HK Ltd. purchased a new stake in shares of Salesforce.com during the first quarter valued at approximately $72,518,000. Finally, Thrax Management LLC raised its stake in shares of Salesforce.com by 42.5% in the first quarter. Thrax Management LLC now owns 401,562 shares of the CRM provider’s stock valued at $29,647,000 after buying an additional 119,731 shares during the period. 87.03% of the stock is currently owned by institutional investors and hedge funds.

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