Salesforce, Inc. (NYSE:CRM) CEO Sells $4,121,850.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $274.79, for a total value of $4,121,850.00. Following the sale, the chief executive officer now owns 12,737,327 shares of the company’s stock, valued at $3,500,090,086.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 value 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 value 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 stock was 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 shares were sold at an average price of $300.14, for a total value of $4,502,100.00.

Salesforce Trading Down 0.1 %

CRM opened at $268.69 on Thursday. 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 stock has a market capitalization of $260.63 billion, a PE ratio of 63.97, a PEG ratio of 2.12 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. The firm has a 50-day moving average price of $295.04 and a two-hundred day moving average price of $265.67.

Salesforce (NYSE:CRM) last posted 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 firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

Institutional Investors Weigh In On Salesforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its position in shares of Salesforce by 2.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 272,618 shares of the CRM provider’s stock worth $55,282,000 after buying an additional 6,470 shares during the period. Sheets Smith Wealth Management acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $416,000. RMR Wealth Builders grew its position in shares of Salesforce by 54.1% during the 3rd quarter. RMR Wealth Builders now owns 5,529 shares of the CRM provider’s stock worth $1,121,000 after buying an additional 1,941 shares during the period. TriaGen Wealth Management LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $1,883,000. Finally, Vicus Capital grew its position in shares of Salesforce by 153.2% during the 3rd quarter. Vicus Capital now owns 2,575 shares of the CRM provider’s stock worth $522,000 after buying an additional 1,558 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Wolfe Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price objective on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Oppenheimer raised their price objective on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Finally, Wedbush raised their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

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.