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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $274.03, for a total value of $4,110,450.00. Following the transaction, the chief executive officer now owns 12,812,327 shares of the company’s stock, valued at $3,510,961,967.81. The sale 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 Friday, April 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 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 shares were 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.
• On Wednesday, March 27th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $301.45, for a total value of $4,521,750.00.

Salesforce Price Performance

Shares of NYSE:CRM opened at $276.63 on Wednesday. The business’s fifty day moving average price is $296.91 and its two-hundred day moving average price is $263.28. The stock has a market cap of $268.33 billion, a PE ratio of 65.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new position in Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the fourth quarter valued at about $26,000. Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at about $33,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter valued at about $31,000. Finally, BKM Wealth Management LLC purchased a new position in Salesforce in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. KeyCorp initiated coverage on Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. JMP Securities reissued a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Monday, April 15th. Robert W. Baird boosted their price target on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, UBS Group upped their price objective on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.