Salesforce, Inc. (NYSE:CRM) CEO Sells $4,170,900.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $278.06, for a total transaction of $4,170,900.00. Following the completion of the transaction, the chief executive officer now owns 12,913,721 shares in the company, valued at approximately $3,590,789,261.26. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 value 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 value 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 stock was 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 stock was 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 value of $4,521,750.00.
• On Monday, March 25th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $305.86, for a total value of $4,587,900.00.
• On Thursday, March 21st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $309.64, for a total value of $4,644,600.00.
• On Tuesday, March 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $299.59, for a total value of $4,493,850.00.

Salesforce Stock Performance

CRM opened at $276.33 on Thursday. The business has a fifty day simple moving average of $298.10 and a 200-day simple moving average of $260.89. The firm has a market cap of $268.04 billion, a PE ratio of 65.79, a P/E/G ratio of 2.10 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share 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 for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Institutional Investors Weigh In On Salesforce

Several hedge funds have recently bought and sold shares of CRM. Graypoint LLC grew its position in Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares in the last quarter. Chase Investment Counsel Corp grew its holdings in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in shares of Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares during the last quarter. Opes Wealth Management LLC raised its holdings in shares of Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC boosted its position in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the topic of a number of research reports. Wolfe Research restated an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a research report on Tuesday. Bank of America raised their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Oppenheimer raised their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.87.

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.