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

Posted by Defense World Staff on May 4th, 2024

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the sale, the chief executive officer now directly owns 12,707,327 shares in the company, valued at $3,425,005,846.31. 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 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 value of $4,126,050.00.
On Wednesday, April 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 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 shares were 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 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.

Salesforce Stock Up 0.6 %

Shares of CRM opened at $273.66 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71. The business’s 50 day moving average is $294.61 and its 200 day moving average is $265.72. The company has a market capitalization of $265.45 billion, a PE ratio of 65.16, a price-to-earnings-growth ratio of 2.07 and a beta of 1.30.

Salesforce (NYSE:CRM – Get Free Report) 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 return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Analyst Ratings Changes

A number of research analysts have weighed in on CRM shares. Stifel Nicolaus reissued a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Wednesday, April 3rd. UBS Group increased their target price on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. BMO Capital Markets increased their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Finally, TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Read Our Latest Report on Salesforce

Institutional Trading of Salesforce

Large investors have recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. bought a new stake in Salesforce in the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $26,000. Red Tortoise LLC bought a new position in shares of Salesforce during the 1st quarter valued at approximately $33,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the 4th quarter valued at approximately $31,000. Finally, BKM Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $34,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

(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.