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 business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $278.06, for a total transaction of $4,170,900.00. Following the transaction, the chief executive officer now directly owns 12,913,721 shares in the company, valued at approximately $3,590,789,261.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 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 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 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 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 stock was 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 value of $4,493,850.00.

Salesforce Trading Down 0.1 %

Shares of NYSE CRM traded down $0.33 during midday trading on Wednesday, hitting $277.08. The stock had a trading volume of 2,970,071 shares, compared to its average volume of 5,688,547. The company has a market capitalization of $268.77 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 2.10 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $298.35 and a 200 day moving average price of $260.79.

Salesforce (NYSE:CRM) last released 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 business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued 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 dividend yield of 0.58%. Salesforce’s payout ratio is currently 9.52%.

Institutional Investors Weigh In On Salesforce

Hedge funds have recently modified their holdings of the stock. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce during the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $26,000. Aspect Partners LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $29,000. Kathleen S. Wright Associates Inc. purchased a new stake in Salesforce during the 4th quarter worth approximately $31,000. Finally, Main Street Group LTD purchased a new stake in Salesforce during the 4th quarter worth approximately $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on CRM shares. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Argus increased their price objective on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. increased their price objective on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Citigroup raised their price target on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.87.

About Salesforce

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.