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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $274.03, for a total transaction of $4,110,450.00. Following the completion of the transaction, the chief executive officer now directly owns 12,812,327 shares in the company, valued at $3,510,961,967.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction of $4,064,100.00.
• On Wednesday, April 17th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 transaction 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 transaction 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 shares were sold at an average price of $302.03, for a total transaction of $4,530,450.00.
• On Friday, April 5th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $300.14, for a total transaction of $4,502,100.00.
• On Wednesday, April 3rd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $305.42, for a total transaction of $4,581,300.00.
• On Monday, April 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $301.72, for a total transaction of $4,525,800.00.
• On Wednesday, March 27th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $301.45, for a total transaction of $4,521,750.00.

Salesforce Stock Down 0.2 %

Shares of NYSE CRM opened at $276.19 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The firm has a market capitalization of $267.90 billion, a PE ratio of 65.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The firm has a fifty day simple moving average of $296.65 and a two-hundred day simple moving average of $263.37.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRM. Mizuho reissued a “buy” rating and issued a $345.00 price target (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Robert W. Baird upped their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. KeyCorp began coverage on shares of Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. Finally, Evercore ISI upped their target price on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce during the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the 4th quarter valued at about $31,000. Pacifica Partners Inc. increased its stake in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Red Tortoise LLC bought a new stake in Salesforce during the 1st quarter valued at about $33,000. 80.43% of the stock is currently owned by institutional investors.

About Salesforce

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.