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 on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the completion of the transaction, the chief executive officer now directly owns 12,707,327 shares of the company’s stock, valued at approximately $3,425,005,846.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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 stock was 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 transaction of $4,110,450.00.
• On Friday, April 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $270.94, for a total transaction 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 transaction 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 stock was 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 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.

Salesforce Stock Up 0.6 %

CRM stock opened at $273.66 on Friday. The stock has a market capitalization of $265.45 billion, a P/E ratio of 65.16, a price-to-earnings-growth ratio of 2.07 and a beta of 1.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $294.61 and a 200-day moving average price of $265.72. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s dividend payout ratio is presently 9.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Monday, April 15th. Wolfe Research reaffirmed an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Jefferies Financial Group upped their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Evercore ISI upped their target price on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $310.61.

Institutional Trading of Salesforce

A number of hedge funds have recently made changes to their positions in CRM. Graypoint LLC boosted its position in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after buying an additional 36 shares during the period. Chase Investment Counsel Corp lifted its holdings in shares of Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares during the period. JFS Wealth Advisors LLC grew its stake in shares of Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC increased its holdings in Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the period. Finally, Prentice Wealth Management LLC raised its position in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

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.