Insider Selling: Salesforce, Inc. (NYSE:CRM) CEO Sells 15,000 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $275.01, for a total transaction of $4,125,150.00. Following the completion of the transaction, the chief executive officer now directly owns 12,677,327 shares of the company’s stock, valued at $3,486,391,698.27. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, May 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $275.45, for a total value of $4,131,750.00.
• On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $269.53, for a total value 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 value 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 transaction of $4,149,750.00.
• On Monday, April 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 stock was 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 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 shares were sold at an average price of $295.74, for a total transaction of $4,436,100.00.

Salesforce Trading Up 0.6 %

NYSE CRM opened at $277.21 on Wednesday. The firm has a market capitalization of $268.34 billion, a PE ratio of 66.00, a P/E/G ratio of 2.10 and a beta of 1.30. The stock’s 50 day moving average is $293.29 and its 200 day moving average is $267.99. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. 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 (NYSE:CRM) last announced 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. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. Research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. Robert W. Baird increased their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. BMO Capital Markets increased their price target on shares of Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Citigroup upped their price objective on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Wells Fargo & Company lifted their target price on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Hedge Funds Weigh In On Salesforce

Large investors have recently made changes to their positions in the business. Bear Mountain Capital Inc. purchased a new position in Salesforce during the fourth quarter valued at $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at $26,000. Ruedi Wealth Management Inc. raised its position in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in Salesforce in the 4th quarter worth about $31,000. Finally, Pacifica Partners Inc. grew its position in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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.