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, May 3rd. The stock was sold at an average price of $275.01, for a total value of $4,125,150.00. Following the transaction, the chief executive officer now directly owns 12,677,327 shares in the company, valued at approximately $3,486,391,698.27. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, May 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $275.45, for a total value of $4,131,750.00.
• On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00.
• On Monday, April 29th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $274.79, for a total transaction of $4,121,850.00.
• On Friday, April 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $275.07, for a total transaction of $4,126,050.00.
• On Wednesday, April 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $276.65, for a total transaction of $4,149,750.00.
• On Monday, April 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 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 shares were 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.

Salesforce Stock Up 0.6 %

Salesforce stock opened at $277.21 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 company’s 50-day moving average is $293.29 and its 200-day moving average is $267.99. The firm has a market capitalization of $268.34 billion, a PE ratio of 66.00, a P/E/G ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

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 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CRM shares. Truist Financial reissued a “buy” rating and set a $360.00 price target (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Argus raised their price target on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Wolfe Research reiterated an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Wednesday, April 3rd. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Hedge Funds Weigh In On Salesforce

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bear Mountain Capital Inc. bought a new position in Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce in the 4th quarter valued at about $26,000. Ruedi Wealth Management Inc. grew its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the fourth quarter worth approximately $31,000. Finally, Pacifica Partners Inc. raised its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. 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.