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

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

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

• 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 transaction of $4,581,300.00.
• On Monday, April 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $304.25, for a total transaction of $4,563,750.00.

Salesforce Price Performance

Shares of NYSE CRM opened at $301.80 on Tuesday. The stock has a market capitalization of $292.75 billion, a PE ratio of 71.86, a P/E/G ratio of 2.32 and a beta of 1.28. 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 business has a fifty day moving average price of $297.68 and a two-hundred day moving average price of $257.11. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s dividend payout ratio is presently 9.52%.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently modified their holdings of the business. Pointe Capital Management LLC raised its holdings in shares of Salesforce by 370.0% during the 2nd quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock worth $328,000 after buying an additional 1,221 shares in the last quarter. Walkner Condon Financial Advisors LLC raised its holdings in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after buying an additional 74 shares in the last quarter. Procyon Advisors LLC increased its holdings in Salesforce by 72.3% in the 3rd quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock worth $5,978,000 after purchasing an additional 12,371 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Salesforce in the 2nd quarter worth about $341,000. Finally, Pure Financial Advisors LLC acquired a new position in Salesforce in the 4th quarter worth about $214,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRM. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Wells Fargo & Company boosted their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. BMO Capital Markets boosted their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Truist Financial reissued a “buy” rating and set a $360.00 price target (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Finally, Royal Bank of Canada upped their target price on shares of Salesforce from $285.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $304.97.

Check Out Our Latest Research Report on Salesforce

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.

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