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 company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00. Following the transaction, the chief executive officer now directly owns 12,928,721 shares in the company, valued at approximately $3,823,539,948.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 stock was 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 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 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 transaction of $4,493,850.00.
• On Friday, March 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $296.12, for a total transaction of $4,441,800.00.

Salesforce Trading Up 1.7 %

Shares of Salesforce stock opened at $277.41 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business has a fifty day simple moving average of $298.35 and a two-hundred day simple moving average of $260.79. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The company has a market capitalization of $269.09 billion, a price-to-earnings ratio of 66.05, a P/E/G ratio of 2.26 and a beta of 1.28.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Monday. Wolfe Research reiterated an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a research report on Tuesday. Truist Financial restated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Wedbush upped their price target on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Nine 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.87.

Hedge Funds Weigh In On Salesforce

Institutional investors and hedge funds have recently made changes to their positions in the company. Graypoint LLC boosted its position in shares of Salesforce by 0.3% during the 4th 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 lifted its stake in Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after buying an additional 36 shares during the period. JFS Wealth Advisors LLC boosted its holdings in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after buying an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its position in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after buying an additional 37 shares during the period. Finally, Prentice Wealth Management LLC grew its position in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

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.