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

salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff sold 10,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $158.01, for a total value of $1,580,100.00.

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

  • On Monday, December 2nd, Marc Benioff sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $160.50, for a total transaction of $802,500.00.
  • On Friday, November 29th, Marc Benioff sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $162.65, for a total transaction of $813,250.00.
  • On Wednesday, November 27th, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $161.75, for a total transaction of $808,750.00.
  • On Monday, November 25th, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $162.32, for a total transaction of $811,600.00.
  • On Friday, November 22nd, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $162.62, for a total transaction of $813,100.00.
  • On Wednesday, November 20th, Marc Benioff sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $164.45, for a total transaction of $822,250.00.
  • On Monday, November 18th, Marc Benioff sold 5,000 shares of salesforce.com stock. The shares were sold at an average price of $162.88, for a total transaction of $814,400.00.
  • On Friday, November 15th, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $162.78, for a total transaction of $813,900.00.
  • On Wednesday, November 13th, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $163.14, for a total transaction of $815,700.00.
  • On Monday, November 11th, Marc Benioff sold 5,000 shares of salesforce.com stock. The stock was sold at an average price of $161.32, for a total transaction of $806,600.00.

NYSE:CRM opened at $158.01 on Friday. salesforce.com, inc. has a 52-week low of $120.16 and a 52-week high of $167.56. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $157.59 and a 200-day simple moving average of $153.43. The company has a market capitalization of $138.57 billion, a PE ratio of 108.97, a price-to-earnings-growth ratio of 7.00 and a beta of 1.24.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.09. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm’s revenue was up 33.0% on a year-over-year basis. As a group, equities analysts anticipate that salesforce.com, inc. will post 1.24 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Resources Management Corp CT ADV purchased a new stake in salesforce.com in the 3rd quarter valued at approximately $67,000. Kensico Capital Management Corp acquired a new stake in salesforce.com during the 3rd quarter valued at $86,890,000. Metropolitan Life Insurance Co NY increased its position in salesforce.com by 13.2% during the third quarter. Metropolitan Life Insurance Co NY now owns 169,656 shares of the CRM provider’s stock worth $25,184,000 after buying an additional 19,720 shares in the last quarter. Man Group plc increased its position in salesforce.com by 102.1% during the third quarter. Man Group plc now owns 133,258 shares of the CRM provider’s stock worth $19,780,000 after buying an additional 67,318 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its position in salesforce.com by 3.7% during the third quarter. Prestige Wealth Management Group LLC now owns 3,250 shares of the CRM provider’s stock worth $482,000 after buying an additional 116 shares in the last quarter. 81.32% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on CRM shares. Stifel Nicolaus lifted their price objective on salesforce.com from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Zacks Investment Research cut salesforce.com from a “buy” rating to a “hold” rating and set a $166.00 target price on the stock. in a research report on Thursday, October 31st. Canaccord Genuity reissued a “buy” rating and set a $185.00 target price on shares of salesforce.com in a research note on Wednesday. Morgan Stanley raised their price target on salesforce.com from $180.00 to $197.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada lifted their price target on salesforce.com from $181.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $189.68.

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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