Salesforce.com Inc (CRM) Chairman Sells $1,793,600.00 in Stock

Salesforce.com Inc (NYSE:CRM) Chairman Marc Benioff sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $89.68, for a total value of $1,793,600.00. Following the completion of the sale, the chairman now owns 34,195,300 shares in the company, valued at approximately $3,066,634,504. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

On Wednesday, August 2nd, Marc Benioff sold 10,000 shares of Salesforce.com stock. The shares were sold at an average price of $89.83, for a total value of $898,300.00.
On Tuesday, August 1st, Marc Benioff sold 30,000 shares of Salesforce.com stock. The stock was sold at an average price of $90.89, for a total value of $2,726,700.00.
On Wednesday, July 26th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $90.59, for a total value of $905,900.00.
On Tuesday, July 25th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $90.38, for a total value of $903,800.00.
On Thursday, July 20th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $90.23, for a total value of $902,300.00.
On Wednesday, July 19th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $89.46, for a total value of $894,600.00.
On Monday, July 17th, Marc Benioff sold 10,000 shares of Salesforce.com stock. The stock was sold at an average price of $89.64, for a total value of $896,400.00.
On Tuesday, July 18th, Marc Benioff sold 30,000 shares of Salesforce.com stock. The stock was sold at an average price of $89.58, for a total value of $2,687,400.00.
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 value 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 value of $882,200.00.

Salesforce.com Inc (NYSE CRM) traded up 0.51% on Thursday, hitting $90.35. 2,351,432 shares of the stock were exchanged. The company has a 50-day moving average of $88.60 and a 200 day moving average of $85.06. The firm has a market cap of $64.27 billion, a P/E ratio of 475.53 and a beta of 1.29. Salesforce.com Inc has a 12 month low of $66.43 and a 12 month high of $92.13.

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

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Large investors have recently bought and sold shares of the stock. Atlas Brown Inc. raised its stake in Salesforce.com by 3.7% in the first quarter. Atlas Brown Inc. now owns 3,577 shares of the CRM provider’s stock valued at $295,000 after buying an additional 128 shares in the last quarter. Rathbone Brothers plc increased its position in shares of Salesforce.com by 16.4% in the first quarter. Rathbone Brothers plc now owns 276,140 shares of the CRM provider’s stock worth $22,779,000 after buying an additional 39,000 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Salesforce.com by 6.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 566,479 shares of the CRM provider’s stock worth $46,729,000 after buying an additional 32,041 shares during the last quarter. Moreno Evelyn V purchased a new position in shares of Salesforce.com during the first quarter worth about $3,867,000. Finally, Rosenbaum Jay D. purchased a new position in shares of Salesforce.com during the first quarter worth about $477,000. Institutional investors and hedge funds own 85.80% of the company’s stock.

Several research firms have weighed in on CRM. Northland Securities set a $105.00 target price on Salesforce.com and gave the stock a “buy” rating in a research note on Saturday, June 24th. MKM Partners restated a “buy” rating and set a $104.00 target price (up from $98.00) on shares of Salesforce.com in a research note on Friday, May 19th. Jefferies Group LLC restated a “hold” rating and set a $80.00 target price on shares of Salesforce.com in a research note on Monday, May 22nd. BTIG Research restated a “buy” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Monday, May 22nd. Finally, Mizuho restated a “buy” rating and set a $100.00 target price (up from $95.00) on shares of Salesforce.com in a research note on Friday, May 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and forty have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $97.41.

About Salesforce.com

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.