CRM

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

April 10, 2024

36 4 minutes read

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Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, April 8th. The stock was sold at an average price of $302.03, for a total value of $4,530,450.00. Following the sale, the chief executive officer now directly owns 12,936,166 shares of the company’s stock, valued at approximately $3,907,110,216.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

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 stock was 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.
On Wednesday, March 27th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 stock was 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 stock was sold at an average price of $309.64, for a total value of $4,644,600.00.
On Tuesday, March 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $299.59, for a total value of $4,493,850.00.
On Friday, March 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $296.12, for a total value of $4,441,800.00.
On Wednesday, March 13th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $306.23, for a total value of $4,593,450.00.
On Monday, March 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $304.97, for a total value of $4,574,550.00.

Salesforce Price Performance

Salesforce stock opened at $302.37 on Wednesday. The stock’s 50 day moving average is $297.97 and its 200 day moving average is $257.79. 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 firm has a market cap of $293.30 billion, a P/E ratio of 71.99, a P/E/G ratio of 2.32 and a beta of 1.28. Salesforce, Inc. has a one year low of $187.31 and a one year high of $318.71.

Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 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 company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.53%. The ex-dividend date is 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 analyst reports. Oppenheimer lifted their target price on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Wedbush lifted their target price on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Needham & Company LLC lifted their target price on Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. BMO Capital Markets lifted their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Robert W. Baird lifted their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Nine investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.97.

Check Out Our Latest Research Report on CRM

Hedge Funds Weigh In On Salesforce

Several institutional investors have recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. acquired a new position in Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce in the fourth quarter valued at approximately $26,000. Aspect Partners LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $29,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. Finally, Main Street Group LTD bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

About Salesforce

(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.