CRM

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

April 6, 2024

52 5 minutes read

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Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $305.42, for a total transaction of $4,581,300.00. Following the sale, the chief executive officer now owns 12,981,166 shares in the company, valued at approximately $3,964,707,719.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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 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 shares were 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 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 value 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 value of $4,563,750.00.
On Friday, March 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00.

Salesforce Price Performance

CRM opened at $301.91 on Friday. The stock has a market cap of $292.85 billion, a P/E ratio of 71.88, a PEG ratio of 2.34 and a beta of 1.28. Salesforce, Inc. has a 52-week low of $187.31 and a 52-week high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $297.40 and a 200 day moving average of $255.87.

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 analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business posted $1.01 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced 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. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Graypoint LLC raised its position in shares of Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp boosted its stake in Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC boosted its position in shares of Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC raised its stake in Salesforce by 1.7% in 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 last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Argus increased their price objective on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. 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. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research report on Wednesday. KeyCorp initiated coverage on shares of Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. Finally, UBS Group increased their price target on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Nine 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $304.97.

Check Out Our Latest Analysis on Salesforce

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.