Salesforce.com Inc. (CRM) Chairman Marc Benioff Sells 12,500 Shares of Stock

Salesforce.com Inc. (NYSE:CRM) Chairman Marc Benioff sold 12,500 shares of the business’s stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $70.53, for a total value of $881,625.00. Following the completion of the transaction, the chairman now directly owns 34,508,000 shares of the company’s stock, valued at approximately $2,433,849,240. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

  • On Wednesday, December 7th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $71.00, for a total value of $887,500.00.
  • On Monday, December 5th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $70.67, for a total value of $883,375.00.
  • On Friday, December 2nd, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $68.43, for a total value of $855,375.00.
  • On Thursday, December 1st, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $69.51, for a total value of $868,875.00.
  • On Tuesday, November 29th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $72.84, for a total value of $910,500.00.
  • On Wednesday, November 30th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $72.72, for a total value of $1,818,000.00.
  • On Monday, November 28th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $73.37, for a total value of $1,834,250.00.
  • On Wednesday, November 23rd, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $74.05, for a total value of $925,625.00.
  • On Tuesday, November 22nd, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $75.74, for a total value of $946,750.00.
  • On Monday, November 21st, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $76.49, for a total value of $956,125.00.

Shares of Salesforce.com Inc. (NYSE:CRM) opened at 71.78 on Thursday. The stock has a market cap of $50.01 billion, a P/E ratio of 243.32 and a beta of 1.48. The company has a 50 day moving average price of $73.91 and a 200 day moving average price of $77.21. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48.

Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Salesforce.com had a return on equity of 2.40% and a net margin of 2.60%. The company’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Analysts anticipate that Salesforce.com Inc. will post $0.98 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Salesforce.com (NYSE:CRM)

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A number of research analysts recently issued reports on the company. OTR Global upgraded Salesforce.com to a “positive” rating in a research note on Thursday, December 1st. Cowen and Company reissued a “buy” rating on shares of Salesforce.com in a report on Sunday, November 20th. DA Davidson set a $86.00 price target on Salesforce.com and gave the stock a “hold” rating in a report on Sunday, September 11th. FBN Securities set a $90.00 price target on Salesforce.com and gave the stock a “buy” rating in a report on Sunday, September 4th. Finally, Rosenblatt Securities set a $90.00 price target on Salesforce.com and gave the stock a “buy” rating in a report on Saturday, November 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and forty-two have assigned a buy rating to the company’s stock. Salesforce.com has a consensus rating of “Buy” and an average target price of $91.85.

A number of large investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. boosted 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 worth $16,360,000 after buying an additional 2,648 shares during the period. Bank of Montreal Can bought a new stake in shares of Salesforce.com during the second quarter worth approximately $31,592,000. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Salesforce.com by 1.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,009,351 shares of the CRM provider’s stock worth $80,153,000 after buying an additional 10,367 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Salesforce.com by 17.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,096,940 shares of the CRM provider’s stock worth $87,108,000 after buying an additional 165,000 shares during the period. Finally, Columbus Circle Investors bought a new stake in shares of Salesforce.com during the second quarter worth approximately $58,994,000. Hedge funds and other institutional investors own 85.24% of the company’s stock.

About Salesforce.com

salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.

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