Salesforce, Inc. (NYSE:CRM) CEO Sells $4,491,300.00 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, April 10th. The shares were sold at an average price of $299.42, for a total transaction of $4,491,300.00. Following the completion of the sale, the chief executive officer now owns 12,958,721 shares of the company’s stock, valued at $3,880,100,241.82. The transaction was disclosed in a legal 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 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $302.03, for a total transaction of $4,530,450.00.
- On Friday, April 5th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $300.14, for a total transaction of $4,502,100.00.
- 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 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 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 shares were sold at an average price of $306.23, for a total transaction of $4,593,450.00.
Salesforce Trading Down 0.2 %
Shares of NYSE:CRM traded down $0.47 during mid-day trading on Thursday, reaching $299.15. The stock had a trading volume of 3,465,621 shares, compared to its average volume of 5,546,970. The firm has a market cap of $290.18 billion, a PE ratio of 70.72, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The firm has a 50 day simple moving average of $298.34 and a two-hundred day simple moving average of $258.08. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $189.53 and a twelve month high of $318.71.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results 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 business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company posted $1.01 EPS. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.
Salesforce Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. Salesforce’s dividend payout ratio is currently 9.52%.
Hedge Funds Weigh In On Salesforce
Hedge funds have recently made changes to their positions in the business. Graypoint LLC lifted its holdings in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares during the last quarter. Chase Investment Counsel Corp lifted its holdings in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in 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 lifted its holdings in shares of Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after buying an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC lifted its holdings in shares of Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares in the last quarter. 80.43% of the stock is owned by institutional investors.
Analyst Ratings Changes
CRM has been the subject of several research analyst reports. Truist Financial reiterated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Argus boosted their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Oppenheimer boosted their price target on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. BMO Capital Markets boosted their price target on shares of Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Mizuho reissued a “buy” rating and issued a $345.00 price target (up previously from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Nine investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $304.97.
Read Our Latest Stock Analysis on CRM
Salesforce Company Profile
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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