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

Posted by Editorial Team on May 9th, 2024

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, May 6th. The stock was sold at an average price of $275.45, for a total value of $4,131,750.00. Following the completion of the transaction, the chief executive officer now owns 12,662,327 shares in the company, valued at $3,487,837,972.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

On Friday, May 3rd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $275.01, for a total value of $4,125,150.00.
On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $269.53, for a total transaction 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 transaction of $4,121,850.00.
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 transaction of $4,126,050.00.
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 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 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 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.

Salesforce Price Performance

Shares of Salesforce stock opened at $278.85 on Thursday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $269.93 billion, a P/E ratio of 66.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The firm’s 50-day simple moving average is $293.29 and its 200-day simple moving average is $267.99.

Salesforce (NYSE:CRM – Get Free Report) last released 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. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.57%. Salesforce’s dividend payout ratio is presently 9.52%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CRM shares. Truist Financial reissued a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 target price (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, Stifel Nicolaus restated a “buy” rating and set a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Read Our Latest Stock Report on CRM

Institutional Investors Weigh In On Salesforce

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Salesforce in the fourth quarter valued at approximately $2,762,331,000. Capital International Investors raised its position in 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 purchasing an additional 5,935,973 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the last quarter. Coatue Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Salesforce by 110.3% during 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 purchasing an additional 1,780,421 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Company Profile

(Get Free Report)

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.