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

Posted by Editorial Team on May 2nd, 2024

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.07, for a total value 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 filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $274.79, for a total value of $4,121,850.00.
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 shares were 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 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 Stock Performance

Shares of CRM stock opened at $268.69 on Thursday. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. 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 company has a market capitalization of $260.63 billion, a price-to-earnings ratio of 63.97, a P/E/G ratio of 2.12 and a beta of 1.28. The stock’s fifty day simple moving average is $295.04 and its 200-day simple moving average is $265.67.

Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid 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 (DPR) is presently 9.52%.

Institutional Trading of Salesforce

Large investors have recently made changes to their positions in the stock. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the 4th quarter worth about $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth about $26,000. Red Tortoise LLC bought a new stake in shares of Salesforce during the 1st quarter worth about $33,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the 4th quarter worth about $31,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $34,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRM shares. BMO Capital Markets lifted their price objective on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, Argus lifted their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

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About Salesforce

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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.