Salesforce, Inc. (NYSE:CRM) CEO Sells $4,042,950.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the sale, the chief executive officer now owns 12,707,327 shares of the company’s stock, valued at approximately $3,425,005,846.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, April 29th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $274.79, for a total transaction of $4,121,850.00.
• On Friday, April 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 shares were 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 stock was 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 value of $4,152,450.00.
• On Monday, April 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 stock was sold at an average price of $302.03, for a total transaction of $4,530,450.00.

Salesforce Stock Up 0.6 %

CRM stock opened at $273.66 on Friday. The company has a 50 day moving average price of $294.23 and a two-hundred day moving average price of $266.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $264.90 billion, a P/E ratio of 65.16, a PEG ratio of 2.09 and a beta of 1.30. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given 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 dividend payout ratio is presently 9.52%.

Hedge Funds Weigh In On Salesforce

A number of large investors have recently bought and sold shares of CRM. 1834 Investment Advisors Co. boosted its holdings in Salesforce by 12.1% in the third quarter. 1834 Investment Advisors Co. now owns 4,075 shares of the CRM provider’s stock valued at $826,000 after acquiring an additional 440 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Salesforce by 10.1% during the 3rd quarter. Simon Quick Advisors LLC now owns 2,885 shares of the CRM provider’s stock worth $585,000 after purchasing an additional 265 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Salesforce by 13.6% in the third quarter. Stratos Wealth Partners LTD. now owns 35,960 shares of the CRM provider’s stock valued at $7,292,000 after buying an additional 4,313 shares during the period. First United Bank & Trust lifted its position in Salesforce by 2.3% during the third quarter. First United Bank & Trust now owns 4,182 shares of the CRM provider’s stock valued at $848,000 after buying an additional 95 shares in the last quarter. Finally, Talbot Financial LLC grew its stake in Salesforce by 1.5% during the third quarter. Talbot Financial LLC now owns 56,266 shares of the CRM provider’s stock worth $11,410,000 after buying an additional 812 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. UBS Group upped their price objective on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their price target on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. KeyCorp initiated coverage on shares of Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating on the stock. Wells Fargo & Company raised their target price on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Finally, Mizuho reiterated a “buy” rating and set a $345.00 price target (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.