Salesforce, Inc. (NYSE:CRM) CEO Sells $4,064,100.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, April 19th. The shares were sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the transaction, the chief executive officer now owns 12,827,327 shares in the company, valued at $3,475,435,977.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 transaction of $4,110,450.00.
• 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 stock was sold at an average price of $278.06, for a total transaction of $4,170,900.00.
• 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 transaction 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 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 transaction of $4,521,750.00.

Salesforce Trading Up 1.0 %

NYSE CRM opened at $276.63 on Wednesday. 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. The company has a 50-day simple moving average of $296.91 and a 200-day simple moving average of $263.28. The firm has a market capitalization 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.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 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 return on equity of 10.42% and a net margin of 11.87%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. BMO Capital Markets upped their price objective on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Jefferies Financial Group raised their price objective on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird boosted their price objective on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Wolfe Research reiterated an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Finally, KeyCorp began coverage on shares of Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Institutional Trading of Salesforce

Large investors have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the fourth quarter worth $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce during the fourth quarter worth about $26,000. Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter worth approximately $33,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the fourth quarter valued at $31,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter valued at $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.