CRM

Salesforce, Inc. (NYSE:CRM) CEO Sells $4,179,450.00 in Stock

May 12, 2024

33 5 minutes read

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Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $278.63, for a total transaction of $4,179,450.00. Following the transaction, the chief executive officer now directly owns 12,632,327 shares in the company, valued at $3,519,745,272.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

On Monday, May 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $275.45, for a total value of $4,131,750.00.
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 value of $4,125,150.00.
On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 shares were 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 shares were sold at an average price of $276.65, for a total value of $4,149,750.00.
On Monday, April 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $274.03, for a total value of $4,110,450.00.
On Friday, April 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 value 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.

Salesforce Trading Down 1.4 %

Salesforce stock traded down $3.80 during midday trading on Thursday, hitting $275.17. 4,661,157 shares of the stock were exchanged, compared to its average volume of 5,493,350. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $292.87 and its 200 day simple moving average is $268.07. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock has a market capitalization of $266.36 billion, a price-to-earnings ratio of 65.52, a PEG ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating 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 firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Hedge Funds Weigh In On Salesforce

Several large investors have recently made changes to their positions in CRM. Marks Group Wealth Management Inc raised its holdings in shares of Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after buying an additional 257 shares during the period. Roman Butler Fullerton & Co. lifted its position in shares of Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after purchasing an additional 105 shares in the last quarter. Pure Financial Advisors LLC purchased a new position in shares of Salesforce in the fourth quarter valued at approximately $214,000. Lone Pine Capital LLC lifted its holdings in Salesforce by 47.5% during the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after buying an additional 804,634 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in Salesforce by 0.8% during the 3rd quarter. Blair William & Co. IL now owns 821,761 shares of the CRM provider’s stock worth $166,637,000 after buying an additional 6,888 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CRM shares. Argus lifted 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. Truist Financial reiterated a “buy” rating and set a $360.00 price target (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Jefferies Financial Group upped their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Wells Fargo & Company increased their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Finally, KeyCorp started coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

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Salesforce Company Profile

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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.