Salesforce, Inc. (NYSE:CRM) CEO Sells $4,152,450.00 in Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $276.83, for a total value of $4,152,450.00. Following the completion of the sale, the chief executive officer now directly owns 12,857,327 shares in the company, valued at $3,559,293,833.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 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.
• 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 value 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 value of $4,644,600.00.

Salesforce Stock Performance

NYSE CRM opened at $270.45 on Friday. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $262.34 billion, a PE ratio of 64.39, a P/E/G ratio of 2.13 and a beta of 1.28. The business has a 50 day simple moving average of $297.28 and a two-hundred day simple moving average of $261.43.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share 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 analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. On average, research analysts predict 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. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analysts Set New Price Targets

CRM has been the topic of a number of recent research reports. Mizuho reissued a “buy” rating and issued a $345.00 target price (up previously from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. Evercore ISI raised their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Argus raised their price objective on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, UBS Group raised their price objective on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Nine 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $307.87.

Institutional Investors Weigh In On Salesforce

A number of institutional investors and hedge funds have recently bought and sold shares of CRM. Bear Mountain Capital Inc. bought a new stake in Salesforce during the 4th quarter valued at $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the 4th quarter worth $26,000. Aspect Partners LLC bought a new position in shares of Salesforce in the 4th quarter worth $29,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the 4th quarter worth $31,000. Finally, Main Street Group LTD bought a new position in shares of Salesforce in the 4th quarter worth $31,000. 80.43% of the stock is owned by 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.