CRM

Marc Benioff Sells 15,000 Shares of Salesforce, Inc. (NYSE:CRM) Stock

April 8, 2024

42 5 minutes read

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Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $300.14, for a total transaction of $4,502,100.00. Following the sale, the chief executive officer now directly owns 12,951,166 shares in the company, valued at $3,887,162,963.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $4,644,600.00.
On Tuesday, March 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $299.59, for a total transaction of $4,493,850.00.
On Friday, March 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $296.12, for a total transaction of $4,441,800.00.
On Wednesday, March 13th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $306.23, for a total transaction of $4,593,450.00.
On Monday, March 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $304.97, for a total transaction of $4,574,550.00.
On Wednesday, March 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $304.25, for a total transaction of $4,563,750.00.

Salesforce Stock Performance

Salesforce stock traded down $0.11 during midday trading on Monday, hitting $301.80. The company’s stock had a trading volume of 3,142,731 shares, compared to its average volume of 5,653,462. Salesforce, Inc. has a 1-year low of $187.31 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 company has a 50-day moving average price of $297.40 and a two-hundred day moving average price of $256.46. The company has a market cap of $292.75 billion, a price-to-earnings ratio of 71.79, a PEG ratio of 2.32 and a beta of 1.28.

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

Salesforce Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $285.00 price objective on shares of Salesforce in a report on Wednesday, February 28th. UBS Group increased their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Wednesday, April 3rd. Finally, Needham & Company LLC increased their target price on shares of Salesforce from $275.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $304.97.

Read Our Latest Research Report on Salesforce

Institutional Trading of Salesforce

Several hedge funds and other institutional investors have recently bought and sold shares of CRM. Graypoint LLC raised its holdings in Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after buying an additional 36 shares during the last quarter. Chase Investment Counsel Corp grew its position in Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after buying an additional 36 shares during the period. JFS Wealth Advisors LLC grew its position in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after buying an additional 36 shares during the period. Opes Wealth Management LLC grew its position in Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares during the period. Finally, Prentice Wealth Management LLC grew its position in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

About Salesforce

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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.