Salesforce, Inc. (NYSE:CRM) CEO Sells $4,064,100.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $300.14, for a total value of $4,502,100.00.
• On Wednesday, April 3rd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $305.42, for a total value of $4,581,300.00.
• On Monday, April 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $301.72, for a total value of $4,525,800.00.
• On Wednesday, March 27th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $301.45, for a total value of $4,521,750.00.

Salesforce Price Performance

CRM stock opened at $276.19 on Thursday. The company has a market capitalization of $267.90 billion, a P/E ratio of 65.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The business has a 50-day simple moving average of $296.65 and a two-hundred day simple moving average of $263.37.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. 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 earned $1.01 EPS. Research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared 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. 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 (DPR) is currently 9.52%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 target price (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. BMO Capital Markets raised their target price on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Argus raised 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. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Monday, April 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently modified their holdings of the business. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. Pacifica Partners Inc. grew its holdings in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Finally, Red Tortoise LLC bought a new position in shares of Salesforce in the first quarter valued at approximately $33,000. 80.43% of the stock is owned by institutional investors.

About Salesforce

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.