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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $274.03, for a total value of $4,110,450.00. Following the transaction, the chief executive officer now directly owns 12,812,327 shares of the company’s stock, valued at $3,510,961,967.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 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 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 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 shares were 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 shares were 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 value 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 stock was sold at an average price of $301.45, for a total transaction of $4,521,750.00.

Salesforce Trading Up 1.0 %

Shares of CRM stock traded up $2.82 during mid-day trading on Tuesday, hitting $276.63. 6,283,041 shares of the company’s stock were exchanged, compared to its average volume of 5,718,907. The stock has a 50-day simple moving average of $297.00 and a two-hundred day simple moving average of $262.79. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The stock has a market cap of $268.33 billion, a price-to-earnings ratio of 65.88, a PEG ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm posted $1.01 EPS. The company’s revenue was up 10.8% on a year-over-year basis. Equities analysts expect 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. Investors of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Robert W. Baird increased their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. KeyCorp began coverage on Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Truist Financial reaffirmed a “buy” rating and set a $360.00 price target (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $310.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Norges Bank purchased a new position in Salesforce in the fourth quarter valued at approximately $2,762,331,000. Capital International Investors raised its stake in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after acquiring an additional 5,935,973 shares during the period. Cerity Partners LLC lifted its holdings in shares of Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after acquiring an additional 3,226,512 shares in the last quarter. Coatue Management LLC acquired a new stake in Salesforce in the 4th quarter valued at $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Salesforce by 110.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after buying an additional 1,780,421 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Company Profile

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.