Insider Selling: Salesforce.com Inc (NYSE:CRM) Chairman Sells 20,000 Shares of Stock

Salesforce.com Inc (NYSE:CRM) Chairman Marc Benioff sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $88.41, for a total value of $1,768,200.00. Following the transaction, the chairman now owns 34,195,300 shares of the company’s stock, valued at approximately $3,023,206,473. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Thursday, July 13th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $89.94, for a total transaction of $899,400.00.
  • On Tuesday, July 11th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $88.22, for a total transaction of $882,200.00.
  • On Wednesday, July 12th, Marc Benioff sold 20,000 shares of Salesforce.com stock. The shares were sold at an average price of $89.07, for a total transaction of $1,781,400.00.
  • On Monday, July 10th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The shares were sold at an average price of $88.30, for a total transaction of $883,000.00.
  • On Friday, July 7th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The shares were sold at an average price of $87.96, for a total transaction of $879,600.00.
  • On Thursday, July 6th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $86.90, for a total transaction of $869,000.00.
  • On Friday, June 30th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $86.90, for a total transaction of $869,000.00.
  • On Monday, July 3rd, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $86.00, for a total transaction of $860,000.00.
  • On Wednesday, July 5th, Marc Benioff sold 30,000 shares of Salesforce.com stock. The stock was sold at an average price of $86.67, for a total transaction of $2,600,100.00.
  • On Wednesday, June 28th, Marc Benioff sold 20,000 shares of Salesforce.com stock. The stock was sold at an average price of $87.92, for a total transaction of $1,758,400.00.

Salesforce.com Inc (NYSE CRM) opened at 89.29 on Tuesday. The company has a market cap of $63.59 billion, a price-to-earnings ratio of 472.43 and a beta of 1.28. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $91.99. The stock’s 50 day moving average is $88.71 and its 200 day moving average is $82.11.

Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, analysts predict that Salesforce.com Inc will post $1.30 earnings per share for the current fiscal year.

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A number of brokerages have recently weighed in on CRM. Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 price objective (up from $100.00) on shares of Salesforce.com in a report on Friday, May 19th. BMO Capital Markets reissued a “buy” rating and set a $92.00 price objective on shares of Salesforce.com in a report on Wednesday, March 22nd. Zacks Investment Research lowered shares of Salesforce.com from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Jefferies Group LLC restated a “hold” rating and set a $80.00 target price on shares of Salesforce.com in a research report on Monday, May 22nd. Finally, Benchmark Co. boosted their target price on shares of Salesforce.com from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-one have issued a buy rating to the company’s stock. Salesforce.com currently has an average rating of “Buy” and a consensus price target of $97.41.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Cigna Investments Inc. New bought a new position in Salesforce.com during the fourth quarter valued at about $1,615,000. KBC Group NV raised its position in Salesforce.com by 16.9% in the first quarter. KBC Group NV now owns 521,167 shares of the CRM provider’s stock valued at $42,991,000 after buying an additional 75,430 shares during the last quarter. Compton Capital Management Inc. RI bought a new position in Salesforce.com during the first quarter valued at about $436,000. Shell Asset Management Co. raised its position in Salesforce.com by 0.7% in the first quarter. Shell Asset Management Co. now owns 72,793 shares of the CRM provider’s stock valued at $6,005,000 after buying an additional 497 shares during the last quarter. Finally, Sapphire Ventures L.L.C. bought a new position in Salesforce.com during the fourth quarter valued at about $6,217,000. 85.62% of the stock is owned by institutional investors and hedge funds.

Salesforce.com Company Profile

Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.

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

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