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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $275.45, for a total value of $4,131,750.00. Following the sale, the chief executive officer now owns 12,662,327 shares in the company, valued at $3,487,837,972.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, May 3rd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 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 stock was 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 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 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 transaction 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 value 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

CRM traded up $1.55 during trading on Tuesday, hitting $277.18. 3,240,746 shares of the stock traded hands, compared to its average volume of 5,524,359. The business has a 50 day moving average price of $293.74 and a 200 day moving average price of $267.47. The company has a market cap of $268.31 billion, a price-to-earnings ratio of 66.27, a PEG ratio of 2.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Hedge Funds Weigh In On Salesforce

Several large investors have recently bought and sold shares of CRM. Graypoint LLC raised its holdings in 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 in the last quarter. Chase Investment Counsel Corp grew its position in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC raised its stake 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 last quarter. Finally, Prentice Wealth Management LLC boosted its position in shares of Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRM. Piper Sandler restated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. BMO Capital Markets upped their price objective on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Wolfe Research reissued an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. Citigroup raised their price target on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Nine 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.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

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.