Insider Selling: Salesforce, Inc. (NYSE:CRM) CEO Sells 15,000 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $276.83, for a total value of $4,152,450.00. Following the completion of the sale, the chief executive officer now directly owns 12,857,327 shares of the company’s stock, valued at approximately $3,559,293,833.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value of $4,170,900.00.
• On Friday, April 12th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 shares were 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 stock was sold at an average price of $300.14, for a total value 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 value 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 value 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.
• 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 transaction 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.

Salesforce Price Performance

CRM stock traded down $4.47 during trading on Thursday, reaching $271.85. 5,916,238 shares of the company were exchanged, compared to its average volume of 5,708,409. 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’s 50 day moving average price is $298.10 and its 200 day moving average price is $260.89. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The company has a market cap of $263.69 billion, a P/E ratio of 64.71, a PEG ratio of 2.13 and a beta of 1.28.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders 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 0.59%. Salesforce’s dividend payout ratio is currently 9.52%.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. JMP Securities reissued a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research note on Monday. UBS Group upped their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Argus upped their price objective on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $307.87.

Institutional Trading of Salesforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. purchased a new stake in Salesforce in the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $26,000. Aspect Partners LLC acquired a new position in Salesforce in the fourth quarter valued at $29,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce during the fourth quarter worth about $31,000. Finally, Main Street Group LTD purchased a new position in shares of Salesforce during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.