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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $274.79, for a total value of $4,121,850.00. Following the completion of the transaction, the chief executive officer now directly owns 12,737,327 shares of the company’s stock, valued at $3,500,090,086.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, April 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 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 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 stock was 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 value 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 value of $4,530,450.00.
• On Friday, April 5th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $300.14, for a total value of $4,502,100.00.

Salesforce Trading Down 2.5 %

NYSE CRM opened at $268.94 on Wednesday. The company has a market cap of $260.87 billion, a PE ratio of 64.03, a PEG ratio of 2.11 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, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71. The stock has a 50 day moving average of $295.34 and a 200-day moving average of $265.65.

Salesforce (NYSE:CRM) last released 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 company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. Wells Fargo & Company upped their price target on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their price target on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research note on Monday, April 15th. Finally, Citigroup upped their price target on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Graypoint LLC increased its position in shares of Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after purchasing an additional 36 shares during the period. Chase Investment Counsel Corp increased its position in shares of Salesforce by 0.3% in 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 increased its position 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 period. Opes Wealth Management LLC increased its position in shares of Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares during the period. Finally, Prentice Wealth Management LLC increased its position in shares of Salesforce by 1.7% in the fourth 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 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.