Boston, MA 09/08/2014 (wallstreetpr) – Social enterprise and cloud computer solutions provider, salesforce.com, inc. (NYSE:CRM) Chairman of the Board and Chief Executive Officer, Marc Benioff, had divested 80K shares in the four days of trading in September. The move came on top of a similar number of shares being sold in the last two days of trading in August.
Chairman Divests Shares
Marc Benioff had resorted to selling 20K shares on September 2 at an average cost of $59.68, according to a filing with the SEC. He had received sale proceeds of about $1.19 million. While the selling price indicated a premium of 24.3% over the 52-week low price of $48.02, it reflected a discount of 10.9% from the yearly high price of $67.00.
salesforce.com, inc. (NYSE:CRM) Chairman had divested 17.7K shares and 2.3K shares at the rate of $59.18 and $60.01 respectively on September 3 too, the company’s filing with the regulator indicated. He had realized an amount of nearly $1.19 million from the sale.
Similarly, on September 4, Benioff had sold another set of 20K shares at an average cost of $59.5 to realize an amount of $1.19 million. The next day too, he had off-loaded another set of 20K shares in two transactions with 16.1K shares at the rate of $59.32 and another 3.9K shares at the rate of $59.81. Together, he had realized nearly $1.19 million from the divestments.
In all, the Chairman of the Board had divested 80K shares in September alone and realized $4.76 million.
Three-Month Insider Activities
In the last three-month period, there were 109 transactions of insider trading, according to Nasdaq data. Of this, only nine transactions related to buying activities and the rest were for selling purposes.
As a result, there was total selling of about 1.54 million shares compared to just about 20.5K shares of buying activities by the insiders. This meant that there were net selling activities of 1.49 million shares in the last three-month period.
The situation is not different for the one-year period too. There were net selling activities of nearly 2.85 million shares by the insiders.
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