salesforce.com, inc. (NYSE:CRM) CEO Sells $5,183,600.00 in Stock

salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 22nd. The stock was sold at an average price of $259.18, for a total transaction of $5,183,600.00. 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, September 20th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $256.88, for a total transaction of $5,137,600.00.
  • On Friday, September 17th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $260.03, for a total transaction of $5,200,600.00.
  • On Wednesday, September 15th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $254.95, for a total transaction of $5,099,000.00.
  • On Monday, September 13th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $253.59, for a total transaction of $5,071,800.00.
  • On Thursday, September 9th, Marc Benioff sold 20,000 shares of salesforce.com stock. The stock was sold at an average price of $261.85, for a total transaction of $5,237,000.00.
  • On Tuesday, September 7th, Marc Benioff sold 20,000 shares of salesforce.com stock. The stock was sold at an average price of $265.43, for a total transaction of $5,308,600.00.
  • On Friday, September 3rd, Marc Benioff sold 20,000 shares of salesforce.com stock. The stock was sold at an average price of $265.34, for a total transaction of $5,306,800.00.
  • On Wednesday, September 1st, Marc Benioff sold 20,000 shares of salesforce.com stock. The stock was sold at an average price of $269.36, for a total transaction of $5,387,200.00.
  • On Monday, August 30th, Marc Benioff sold 20,000 shares of salesforce.com stock. The stock was sold at an average price of $265.86, for a total transaction of $5,317,200.00.
  • On Friday, August 27th, Marc Benioff sold 20,000 shares of salesforce.com stock. The shares were sold at an average price of $267.44, for a total transaction of $5,348,800.00.

CRM traded up $18.69 during trading on Thursday, hitting $277.86. 15,516,479 shares of the company’s stock were exchanged, compared to its average volume of 6,431,898. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. salesforce.com, inc. has a 1 year low of $201.51 and a 1 year high of $279.39. The stock has a 50 day moving average price of $253.02 and a 200 day moving average price of $237.04. The firm has a market cap of $272.02 billion, a P/E ratio of 111.59, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. salesforce.com’s revenue for the quarter was up 23.1% on a year-over-year basis. Analysts forecast that salesforce.com, inc. will post 2.09 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. Raymond James lifted their target price on shares of salesforce.com from $280.00 to $340.00 and gave the company a “strong-buy” rating in a report on Thursday, August 26th. Wedbush lifted their target price on shares of salesforce.com from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Bank of America lifted their target price on shares of salesforce.com from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 26th. Citigroup lifted their target price on shares of salesforce.com from $250.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, August 26th. Finally, The Goldman Sachs Group set a $350.00 price objective on shares of salesforce.com in a research note on Wednesday, September 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $299.83.

Several hedge funds and other institutional investors have recently bought and sold shares of CRM. MBM Wealth Consultants LLC acquired a new position in shares of salesforce.com during the first quarter worth $25,000. Atlas Private Wealth Advisors raised its holdings in salesforce.com by 115.3% in the second quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock valued at $31,000 after acquiring an additional 68 shares in the last quarter. Sage Financial Management Group Inc. acquired a new stake in salesforce.com in the first quarter valued at $32,000. First PREMIER Bank acquired a new stake in salesforce.com in the second quarter valued at $32,000. Finally, Providence Capital Advisors LLC raised its holdings in salesforce.com by 87.2% in the first quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock valued at $34,000 after acquiring an additional 75 shares in the last quarter. 77.33% of the stock is currently owned by institutional investors and hedge funds.

About salesforce.com

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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