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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $276.83, for a total value of $4,152,450.00. Following the transaction, the chief executive officer now owns 12,857,327 shares in the company, valued at approximately $3,559,293,833.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 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 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 shares were 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 stock was 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.

Salesforce Trading Down 1.6 %

Shares of NYSE:CRM traded down $4.47 during trading on Thursday, hitting $271.85. The company had a trading volume of 5,916,238 shares, compared to its average volume of 5,708,409. The stock has a market cap of $263.69 billion, a price-to-earnings ratio of 64.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. 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 has a fifty day simple moving average of $298.10 and a two-hundred day simple moving average of $260.89. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) 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 company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company earned $1.01 earnings per share. Salesforce’s revenue was up 10.8% on a year-over-year basis. As a group, equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce’s dividend payout ratio is 9.52%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. Canaccord Genuity Group restated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Citigroup boosted their price objective on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Wedbush increased their target price on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Oppenheimer boosted their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Finally, TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $307.87.

Institutional Investors Weigh In On Salesforce

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

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.