Salesforce, Inc. (NYSE:CRM) CEO Sells $4,270,950.00 in Stock

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $284.73, for a total transaction of $4,270,950.00. Following the transaction, the chief executive officer now directly owns 12,557,327 shares in the company, valued at approximately $3,575,447,716.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, May 13th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $276.84, for a total value of $4,152,600.00.
• On Friday, May 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $276.59, for a total value of $4,148,850.00.
• On Wednesday, May 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $278.63, for a total value of $4,179,450.00.
• On Monday, May 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $275.45, for a total transaction 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 transaction of $4,125,150.00.
• On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 value of $4,121,850.00.
• On Friday, April 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $275.07, for a total value of $4,126,050.00.
• On Wednesday, April 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was 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 transaction of $4,110,450.00.

Salesforce Price Performance

Shares of NYSE:CRM opened at $285.61 on Friday. 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 stock has a market cap of $276.47 billion, a PE ratio of 68.00, a PEG ratio of 2.21 and a beta of 1.30. The company’s fifty day moving average is $289.14 and its 200 day moving average is $271.54. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

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, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wahed Invest LLC boosted its position in Salesforce by 15.8% during the 1st quarter. Wahed Invest LLC now owns 18,640 shares of the CRM provider’s stock valued at $5,614,000 after buying an additional 2,544 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Salesforce by 386.8% during the first quarter. Citizens Financial Group Inc. RI now owns 21,970 shares of the CRM provider’s stock worth $6,617,000 after purchasing an additional 17,457 shares during the period. Rokos Capital Management LLP grew its stake in shares of Salesforce by 71.9% in the first quarter. Rokos Capital Management LLP now owns 90,667 shares of the CRM provider’s stock worth $27,293,000 after purchasing an additional 37,932 shares during the last quarter. Heartland Bank & Trust Co purchased a new position in Salesforce during the 1st quarter valued at about $1,817,000. Finally, New Covenant Trust Company N.A. bought a new position in Salesforce during the 1st quarter valued at approximately $208,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research report on Thursday, March 7th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price target (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Oppenheimer boosted their price objective on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Monday, April 15th. Finally, Piper Sandler reiterated a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Check Out Our Latest Analysis 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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