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

Salesforce, Inc. (NYSE:CRMGet Free Report) CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the completion of the sale, the chief executive officer now directly owns 13,011,166 shares of the company’s stock, valued at approximately $3,925,729,005.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Wednesday, March 27th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $301.45, for a total value of $4,521,750.00.
  • On Monday, March 25th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $305.86, for a total transaction of $4,587,900.00.
  • On Thursday, March 21st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $309.64, for a total transaction of $4,644,600.00.
  • On Tuesday, March 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $299.59, for a total transaction of $4,493,850.00.
  • On Friday, March 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $296.12, for a total value of $4,441,800.00.
  • On Wednesday, March 13th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $306.23, for a total value of $4,593,450.00.
  • On Monday, March 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $304.97, for a total transaction of $4,574,550.00.
  • On Wednesday, March 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $304.25, for a total transaction of $4,563,750.00.
  • On Friday, March 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00.
  • On Wednesday, February 28th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $299.36, for a total transaction of $4,490,400.00.

Salesforce Stock Performance

CRM stock traded up $1.76 during trading on Tuesday, reaching $304.02. The company had a trading volume of 4,745,641 shares, compared to its average volume of 5,703,619. 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 company has a market cap of $294.90 billion, a price-to-earnings ratio of 71.17, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The firm has a 50-day simple moving average of $295.56 and a 200-day simple moving average of $254.02. Salesforce, Inc. has a twelve month low of $187.31 and a twelve month high of $318.71.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Royal Bank of Canada boosted their price objective on shares of Salesforce from $285.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Robert W. Baird lifted their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Bank of America lifted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Nine investment 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $304.32.

Read Our Latest Stock Report on Salesforce

Institutional Investors Weigh In On Salesforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the 4th quarter valued at $26,000. Union Savings Bank purchased a new position in Salesforce in the 2nd quarter valued at $27,000. Aspect Partners LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at $29,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Salesforce in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

About Salesforce

(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.

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