Salesforce, Inc. (NYSE:CRM) CEO Sells $4,126,050.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.07, for a total transaction of $4,126,050.00. Following the sale, the chief executive officer now owns 12,752,327 shares of the company’s stock, valued at $3,507,782,587.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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.
• 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.

Salesforce Price Performance

Shares of NYSE CRM opened at $268.69 on Thursday. The firm’s 50-day moving average price is $295.04 and its 200-day moving average price is $265.67. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. The firm has a market capitalization of $260.63 billion, a P/E ratio of 63.97, a P/E/G ratio of 2.12 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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, beating 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 firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed 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 was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. Salesforce’s dividend payout ratio is currently 9.52%.

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently made changes to their positions in the stock. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce in the 4th quarter worth about $31,000. Pacifica Partners Inc. raised its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Finally, Red Tortoise LLC acquired a new stake in shares of Salesforce in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CRM shares. Wolfe Research restated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. Wedbush boosted their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, April 15th. Truist Financial reaffirmed a “buy” rating and set a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, Mizuho reaffirmed a “buy” rating and set a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.