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

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

Salesforce.com Inc. (NYSE:CRM) Chairman Marc Benioff sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $69.79, for a total transaction of $872,375.00. Following the completion of the transaction, the chairman now owns 34,208,000 shares of the company’s stock, valued at approximately $2,387,376,320. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

Salesforce.com Inc. (NYSE:CRM) opened at 69.87 on Tuesday. The company has a market capitalization of $48.68 billion, a P/E ratio of 236.85 and a beta of 1.48. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48. The stock’s 50 day moving average price is $72.50 and its 200-day moving average price is $76.18.

Salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. The business earned $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Salesforce.com had a return on equity of 2.40% and a net margin of 2.60%. Salesforce.com’s revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. Equities analysts forecast that Salesforce.com Inc. will post $0.98 EPS for the current year.

A number of analysts have weighed in on CRM shares. BTIG Research reissued a “buy” rating and set a $100.00 target price on shares of Salesforce.com in a research report on Thursday, September 1st. Goldman Sachs Group Inc. set a $96.00 price objective on shares of Salesforce.com and gave the stock a “buy” rating in a research report on Thursday, September 1st. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Thursday, September 1st. Citigroup Inc. reduced their price objective on shares of Salesforce.com from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, September 1st. Finally, Wunderlich reaffirmed a “buy” rating and set a $101.00 price objective on shares of Salesforce.com in a research report on Thursday, September 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $91.94.

A number of large investors have recently modified their holdings of CRM. Cullen Frost Bankers Inc. raised 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 purchased a new stake in shares of Salesforce.com during the second quarter worth $31,592,000. Mizuho Trust & Banking Co. Ltd. raised 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. raised 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, Rhumbline Advisers raised its stake in shares of Salesforce.com by 4.4% in the third quarter. Rhumbline Advisers now owns 962,662 shares of the CRM provider’s stock worth $68,667,000 after buying an additional 40,697 shares during the period. 85.09% of the stock is owned by institutional investors and hedge funds.

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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