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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $275.01, for a total value of $4,125,150.00. Following the transaction, the chief executive officer now owns 12,677,327 shares in the company, valued at $3,486,391,698.27. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $269.53, for a total transaction of $4,042,950.00.
• On Monday, April 29th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 shares were 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 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 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 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 shares were sold at an average price of $299.42, for a total transaction of $4,491,300.00.

Salesforce Trading Up 0.7 %

Salesforce stock opened at $275.63 on Tuesday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business’s fifty day moving average is $293.74 and its 200 day moving average is $267.47. 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 stock has a market capitalization of $266.81 billion, a PE ratio of 65.63, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30.

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

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders 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 9.52%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America upped their price target on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Wedbush lifted their price target on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Robert W. Baird upped their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Finally, Wells Fargo & Company increased their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $310.61.

Institutional Trading of Salesforce

Several large investors have recently modified their holdings of CRM. AIA Group Ltd lifted its holdings in Salesforce by 14.4% in the first quarter. AIA Group Ltd now owns 27,913 shares of the CRM provider’s stock valued at $8,407,000 after acquiring an additional 3,520 shares during the period. Motive Wealth Advisors purchased a new stake in shares of Salesforce during the 1st quarter valued at about $276,000. Sciencast Management LP lifted its stake in shares of Salesforce by 8.7% in the 1st quarter. Sciencast Management LP now owns 6,438 shares of the CRM provider’s stock worth $1,939,000 after purchasing an additional 514 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Salesforce by 21.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,819 shares of the CRM provider’s stock worth $16,811,000 after buying an additional 9,941 shares during the last quarter. Finally, Empirical Finance LLC raised its position in Salesforce by 3.4% in the first quarter. Empirical Finance LLC now owns 34,632 shares of the CRM provider’s stock worth $10,430,000 after acquiring an additional 1,150 shares during the period. Institutional investors own 80.43% of the company’s stock.

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.