Marc Benioff Sells 10,000 Shares of salesforce.com, inc. (NYSE:CRM) Stock

salesforce.com, inc. (NYSE:CRM) Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction on Monday, June 24th. The stock was sold at an average price of $155.44, for a total transaction of $1,554,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Friday, June 21st, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $157.05, for a total transaction of $785,250.00.
  • On Wednesday, June 19th, Marc Benioff sold 10,000 shares of salesforce.com stock. The stock was sold at an average price of $151.83, for a total transaction of $1,518,300.00.
  • On Monday, June 17th, Marc Benioff sold 10,000 shares of salesforce.com stock. The stock was sold at an average price of $150.49, for a total transaction of $1,504,900.00.
  • On Thursday, June 13th, Marc Benioff sold 10,000 shares of salesforce.com stock. The stock was sold at an average price of $151.14, for a total transaction of $1,511,400.00.
  • On Monday, June 10th, Marc Benioff sold 10,000 shares of salesforce.com stock. The stock was sold at an average price of $157.75, for a total transaction of $1,577,500.00.
  • On Thursday, June 6th, Marc Benioff sold 10,000 shares of salesforce.com stock. The stock was sold at an average price of $157.57, for a total transaction of $1,575,700.00.
  • On Monday, June 3rd, Marc Benioff sold 10,000 shares of salesforce.com stock. The stock was sold at an average price of $149.88, for a total transaction of $1,498,800.00.
  • On Thursday, May 30th, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $155.21, for a total transaction of $776,050.00.
  • On Tuesday, May 28th, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $156.07, for a total transaction of $780,350.00.
  • On Friday, May 24th, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $155.03, for a total transaction of $775,150.00.

salesforce.com stock opened at $149.34 on Wednesday. The stock has a market cap of $121.71 billion, a PE ratio of 102.99, a price-to-earnings-growth ratio of 5.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. salesforce.com, inc. has a 1 year low of $113.60 and a 1 year high of $167.56. The firm has a 50-day moving average of $154.65.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.32. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. On average, research analysts predict that salesforce.com, inc. will post 1.25 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Avondale Wealth Management raised its holdings in shares of salesforce.com by 100.0% in the 1st quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Citizens Financial Group Inc RI bought a new stake in shares of salesforce.com in the 1st quarter valued at about $27,000. CX Institutional raised its holdings in shares of salesforce.com by 426.5% in the 1st quarter. CX Institutional now owns 179 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 145 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of salesforce.com by 63.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Finally, Avestar Capital LLC raised its holdings in shares of salesforce.com by 108.7% in the 1st quarter. Avestar Capital LLC now owns 192 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

A number of brokerages have commented on CRM. Bank of America reissued a “buy” rating and issued a $200.00 price objective (up from $181.00) on shares of salesforce.com in a research note on Wednesday, February 27th. Mizuho assumed coverage on shares of salesforce.com in a research note on Wednesday, March 13th. They set a “buy” rating and a $185.00 price target for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $180.00 price target on shares of salesforce.com in a research note on Wednesday, April 17th. Robert W. Baird lifted their price target on shares of salesforce.com from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Macquarie lifted their price target on shares of salesforce.com from $174.00 to $188.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $179.97.

About salesforce.com

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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