Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff Sells 15,000 Shares

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $274.79, for a total transaction of $4,121,850.00. Following the transaction, the chief executive officer now owns 12,737,327 shares of the company’s stock, valued at $3,500,090,086.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, April 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $275.07, for a total transaction of $4,126,050.00.
• On Wednesday, April 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $276.65, for a total transaction of $4,149,750.00.
• On Monday, April 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $274.03, for a total value of $4,110,450.00.
• On Friday, April 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00.
• On Wednesday, April 17th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $276.83, for a total transaction of $4,152,450.00.
• On Monday, April 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $278.06, for a total value of $4,170,900.00.
• On Friday, April 12th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00.
• On Wednesday, April 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $299.42, for a total transaction of $4,491,300.00.
• On Monday, April 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $302.03, for a total value of $4,530,450.00.
• On Friday, April 5th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $300.14, for a total transaction of $4,502,100.00.

Salesforce Trading Down 2.5 %

NYSE CRM traded down $6.80 during trading on Tuesday, hitting $268.94. The stock had a trading volume of 5,211,266 shares, compared to its average volume of 5,632,453. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71. The stock has a 50 day simple moving average of $295.69 and a 200 day simple moving average of $265.20. The stock has a market capitalization of $260.87 billion, a price-to-earnings ratio of 65.03, a P/E/G ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. Sell-side analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRM. Commonwealth Equity Services LLC raised its holdings in shares of Salesforce by 2.4% in the third quarter. Commonwealth Equity Services LLC now owns 272,618 shares of the CRM provider’s stock valued at $55,282,000 after acquiring an additional 6,470 shares in the last quarter. Sheets Smith Wealth Management bought a new position in shares of Salesforce during the third quarter valued at approximately $416,000. RMR Wealth Builders increased its holdings in Salesforce by 54.1% during the third quarter. RMR Wealth Builders now owns 5,529 shares of the CRM provider’s stock valued at $1,121,000 after buying an additional 1,941 shares during the period. TriaGen Wealth Management LLC bought a new position in Salesforce in the third quarter worth approximately $1,883,000. Finally, Vicus Capital boosted its position in Salesforce by 153.2% during the 3rd quarter. Vicus Capital now owns 2,575 shares of the CRM provider’s stock valued at $522,000 after acquiring an additional 1,558 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Argus boosted their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Wolfe Research reiterated an “outperform” rating and set a $365.00 price target on shares of Salesforce in a research report on Tuesday, April 16th. Piper Sandler reiterated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Finally, Wedbush lifted their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.