Marc Benioff Sells More Shares of Salesforce.com

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Sep 23, 2014

Only a few days after selling 40,000 shares in his company, Salesforce.com (CRM, Financial) co-founder Marc Benioff sold 60,000 more. The transaction took place on September 19, and the shares sold for $57.78 apiece. Benioff received $3,466,800 for the holdings.

The sale brought the total of company stock Benioff has sold this month to more than 250,000 shares. At the close of trading on Monday, September 22, Salesforce stock was selling for $56.91.

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Three of the gurus who are followed by GuruFocus – Ray Dalio (Trades, Portfolio), Mariko Gordon (Trades, Portfolio) and Chris Davis (Trades, Portfolio) – increased their positions in Salesforce.com this summer. As of June 30, Dalio owned 139,352 shares of Salesforce, Davis owned 136,227 and Gordon owned 11,146.

George Soros (Trades, Portfolio), John Burbank (Trades, Portfolio), Jim Simons (Trades, Portfolio) and RS Investment Management (Trades, Portfolio) all cut their holdings as of June 30.

Based in San Francisco, Salesforce.com exceeded analysts’ expectations in the second quarter, outperforming its chief rivals in the customer relationship management sector. That achievement may be all the sweeter, considering that, a few months ago, there wassome doubt whether Salesforce.com was capable of making a profit in the emerging cloud environment.

Benioff was scheduled to give the keynote address September 23 at Connections 2014, a digital marketing conference produced by ExactTarget, a recent Salesforce.com acquisition. Connections 2014 is being held at the Indiana Convention Center in Indianapolis through Thursday, which is Benioff’s birthday.