Insider Selling: Salesforce, Inc. (NYSE:CRM) CEO Sells 15,000 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total transaction of $4,149,750.00. Following the completion of the transaction, the chief executive officer now directly owns 12,782,327 shares in the company, valued at $3,536,230,764.55. The sale was disclosed in a document filed with the SEC, which is available at 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 Friday, April 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 stock was sold at an average price of $295.74, for a total transaction of $4,436,100.00.
• On Wednesday, April 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $299.42, for a total transaction 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 stock was 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 stock was sold at an average price of $301.72, for a total value of $4,525,800.00.

Salesforce Stock Down 1.1 %

Shares of NYSE CRM opened at $273.09 on Friday. The firm has a fifty day moving average of $296.28 and a 200-day moving average of $263.44. The stock has a market capitalization of $264.90 billion, a PE ratio of 65.02, a P/E/G ratio of 2.13 and a beta of 1.28. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released 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 firm 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%. Salesforce’s revenue for the quarter 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, analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders 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 dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRM shares. Robert W. Baird raised their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Argus raised their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Wolfe Research reaffirmed an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Wells Fargo & Company upped their price target on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Finally, KeyCorp initiated coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $310.61.

Institutional Trading of Salesforce

Institutional investors have recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce during the 4th quarter worth approximately $31,000. Pacifica Partners Inc. grew its position in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Finally, Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter valued at approximately $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

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.