Salesforce, Inc. (NYSE:CRM) CEO Sells $4,149,750.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the transaction, the chief executive officer now owns 12,782,327 shares in the company, valued at $3,536,230,764.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 shares were 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 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 stock was 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 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 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 shares were sold at an average price of $301.72, for a total value of $4,525,800.00.

Salesforce Trading Down 1.1 %

Shares of Salesforce stock traded down $3.10 on Thursday, hitting $273.09. 4,809,033 shares of the company’s stock traded hands, compared to its average volume of 5,686,380. The firm’s 50-day moving average price is $296.65 and its two-hundred day moving average price is $263.37. The stock has a market capitalization of $264.90 billion, a PE ratio of 64.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating 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 company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Hedge Funds Weigh In On Salesforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Impact Partnership Wealth LLC boosted its stake in shares of Salesforce by 226.5% during the 3rd quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock worth $65,000 after buying an additional 222 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Salesforce by 25.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 4,411 shares of the CRM provider’s stock worth $894,000 after buying an additional 901 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Salesforce by 3.1% during the 3rd quarter. Proficio Capital Partners LLC now owns 1,840 shares of the CRM provider’s stock worth $373,000 after buying an additional 56 shares during the last quarter. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Salesforce during the 3rd quarter worth about $237,000. Finally, Capital Asset Advisory Services LLC acquired a new position in shares of Salesforce during the 3rd quarter worth about $226,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Monday, April 15th. Truist Financial reaffirmed a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Citigroup boosted their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. JMP Securities reissued a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Monday, April 15th. Finally, Mizuho reissued a “buy” rating and issued a $345.00 target price (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average 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.