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 company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $275.45, for a total transaction of $4,131,750.00. Following the completion of the transaction, the chief executive officer now owns 12,662,327 shares of the company’s stock, valued at approximately $3,487,837,972.15. The sale was disclosed in a filing with the SEC, which is available at this link.

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 transaction of $4,125,150.00.
• On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $269.53, for a total transaction 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 transaction 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 transaction 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 transaction 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 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 stock was 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 shares were sold at an average price of $295.74, for a total transaction of $4,436,100.00.

Salesforce Price Performance

CRM opened at $277.21 on Wednesday. The company’s 50 day simple moving average is $293.29 and its 200 day simple moving average is $267.99. 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 1 year low of $193.68 and a 1 year high of $318.71. The stock has a market capitalization of $268.34 billion, a PE ratio of 66.00, a P/E/G ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

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

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently made changes to their positions in the business. Bear Mountain Capital Inc. purchased a new position in Salesforce in the fourth quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth about $26,000. Ruedi Wealth Management Inc. raised its holdings in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce during the 4th quarter worth approximately $31,000. Finally, Pacifica Partners Inc. boosted its holdings in 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 during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of research analyst reports. Wolfe Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. Mizuho reiterated a “buy” rating and issued a $345.00 price target (up previously from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Argus increased their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. KeyCorp assumed coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Jefferies Financial Group raised their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus 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.