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

Posted by Micah Haroldson on Apr 25th, 2024

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,536,230,764.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 shares were 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 shares were 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 stock was 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 value 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.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $3.10 during midday trading on Thursday, hitting $273.09. The stock had a trading volume of 4,809,033 shares, compared to its average volume of 5,686,380. The company has a market capitalization of $264.90 billion, a PE ratio of 64.14, a P/E/G ratio of 2.13 and a beta of 1.28. The stock has a 50 day moving average price of $296.65 and a two-hundred day moving average price of $263.37. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Citigroup upped their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Bank of America upped their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Truist Financial reissued a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. Finally, Evercore ISI upped their price target on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine equities 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Read Our Latest Research Report on CRM

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently modified their holdings of the business. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. 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 during the last quarter. Finally, Red Tortoise LLC acquired a new position in shares of Salesforce in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

(Get Free Report)

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.