Salesforce.com Inc. (NYSE:CRM) CEO Marc Benioff sold 12,500 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $73.39, for a total value of $917,375.00. Following the transaction, the chief executive officer now directly owns 35,383,000 shares in the company, valued at $2,596,758,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Tuesday, September 20th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $73.08, for a total value of $913,500.00.
  • On Monday, September 19th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $73.36, for a total value of $1,834,000.00.
  • On Thursday, September 15th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $73.97, for a total value of $924,625.00.
  • On Wednesday, September 14th, Marc Benioff sold 37,500 shares of Salesforce.com stock. The shares were sold at an average price of $73.80, for a total value of $2,767,500.00.
  • On Friday, September 9th, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $74.97, for a total value of $937,125.00.
  • On Thursday, September 8th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $74.81, for a total value of $1,870,250.00.
  • On Tuesday, September 6th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $75.31, for a total value of $1,882,750.00.
  • On Thursday, September 1st, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $75.25, for a total value of $940,625.00.
  • On Wednesday, August 31st, Marc Benioff sold 12,500 shares of Salesforce.com stock. The shares were sold at an average price of $79.35, for a total value of $991,875.00.
  • On Tuesday, August 30th, Marc Benioff sold 25,000 shares of Salesforce.com stock. The shares were sold at an average price of $79.80, for a total value of $1,995,000.00.

Salesforce.com Inc. (NYSE:CRM) traded up 1.74% during midday trading on Wednesday, reaching $74.18. The company’s stock had a trading volume of 6,315,838 shares. Salesforce.com Inc. has a 52 week low of $52.60 and a 52 week high of $84.48. The firm has a market capitalization of $50.81 billion, a P/E ratio of 228.95 and a beta of 1.57. The company’s 50-day moving average is $77.35 and its 200 day moving average is $77.79.

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Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm earned $0.19 EPS. The business’s revenue was up 25.0% on a year-over-year basis. Analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock worth $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. bought a new stake in shares of Salesforce.com during the second quarter worth $119,000. Ropes Wealth Advisors LLC increased its stake in shares of Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock worth $143,000 after buying an additional 1,009 shares during the period. Mycio Wealth Partners LLC increased its stake in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares during the period. Finally, Trust Co. of Vermont increased its stake in shares of Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock worth $154,000 after buying an additional 1,071 shares during the period. 87.23% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on CRM shares. Morgan Stanley lowered their target price on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $100.00 target price on shares of Salesforce.com in a report on Monday, August 15th. Mizuho increased their target price on Salesforce.com from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 1st. Wedbush restated an “outperform” rating and issued a $98.00 price target (up previously from $96.00) on shares of Salesforce.com in a research report on Friday, August 26th. Finally, Vetr upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price target for the company in a research report on Wednesday, August 10th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and forty-one have issued a buy rating to the stock. Salesforce.com has a consensus rating of “Buy” and a consensus price target of $92.63.

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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