, inc. (NYSE:CRM) Chairman And CEO, Marc Benioff, Unloads 40,000 Shares In Two Trading Sessions

Boston, MA 10/13/2014 (wallstreetpr) –, inc. (NYSE:CRM) Chairman and CEO, Marc Benioff, has offloaded shares for more than half a dozen times in the current month of October itself. Towards the end of the last week, i.e. on October 9 and 10, he has sold 40,000 shares. There were selling by the insiders in the counter in the last three-month period.

There were other officers’ too unloading parts of their shares in the open market in the current month.

Sell Shares

According to the Form 4 filed with the SEC on October 10, the, inc. (NYSE:CRM)’s Chairman and CEO has divested 20,000 shares on October 10 through four transactions. While 9,451 shares were sold at the rate of $56.40, another 3,459 shares were divested at a cost of $57.25 a share. Similarly, 6,900 shares were sold at the rate of $55.11 whereas 100 shares were unloaded at a cost of $57.85 a share. He has realized an amount of $1.12 million from the sale of shares.

In the previous day too, i.e. on October 9,, inc. (NYSE:CRM)’s CEO unloaded another 20,000 shares through three transactions. While 11,800 shares were sold at $57.34, another 7,000 shares were divested at $58.44 a share. Similarly, 1,200 shares was divested at $59.19 a share. The average cost of these shares was $57.84 a share. The sale fetched him approximately $1.16 million.

The sale price indicated that the CEO has realized a premium of approximately 16.4% over the yearly low price of $48.17. The sale price also suggested that he has sold it at a discount of nearly 16.3% to the 52-week high price of $67.00.

Recent Insider Activities

According to a Nasdaq data, the chairman and the CEO has divested 20,000 shares each for more than six times in the current month. Other officers of the company like George Hu, Burke Norton too sold a significant number of shares in the current month.

As a result of the latest selling, Benioff holding in the company has slipped marginally to 39.39 million shares. This is valued around $2.16 billion.

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Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz

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