Published On: Tue, Aug 12th, 2014

Marc Benioff Sells SalesForce.com Shares, Value Declines

 

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Salesforce.com, Inc. (NYSE:CRM) CEO Marc Benioff unloaded 20, 000 shares of his stock on the open market last Thursday, August 7, watchlistnews.com reported. The average stock price was $54.01, for a total value of $1, 080, 200.00.

Analysts at Morgan Stanley maintained a “positive” rating on salesforce.com, inc. shares on June 19.

But analysts at Credit Suisse, who reiterated an “outperform” rating on these shares on May 29, now have a $75.00 price target on the stock, down from $80.00.

And, to complete the somewhat grimmer picture, analysts at Pivotal Research who reiterated a “buy” rating on these shares May 22, now have a $73.00 price target on the stock, down from $74.00.

One analyst has rated the stock “sell, ” four gave it a “hold, ” 27 are going with “buy, ” two with a “strong buy.”

The consensus rating is “buy, ” with an average target price of $67.00.

The company had revenue of $1.23 billion for Q1/14, compared with a consensus estimate of $1.21 billion. Revenue for the quarter was up 37.7% on a year-over-year basis.

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