CRM

Salesforce, Inc. (NYSE:CRM) CEO Sells $4,587,900.00 in Stock

March 27, 2024

41 4 minutes read

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Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.86, for a total transaction of $4,587,900.00. Following the transaction, the chief executive officer now owns 13,071,166 shares of the company’s stock, valued at approximately $3,997,946,832.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

On Thursday, March 21st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 shares were sold at an average price of $299.59, for a total value of $4,493,850.00.
On Friday, March 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $296.12, for a total value 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 stock was 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.
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.
On Wednesday, February 28th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $299.36, for a total value of $4,490,400.00.
On Monday, February 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $300.46, for a total value of $4,506,900.00.
On Friday, February 23rd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $293.39, for a total transaction of $4,400,850.00.

Salesforce Price Performance

NYSE CRM opened at $305.84 on Wednesday. The firm’s fifty day simple moving average is $292.85 and its two-hundred day simple moving average is $251.18. The firm has a market capitalization of $296.66 billion, a P/E ratio of 72.82, a P/E/G ratio of 2.37 and a beta of 1.28. 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 12-month low of $187.31 and a 12-month high of $318.71.

Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $9.22 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Institutional Trading of Salesforce

A number of institutional investors have recently bought and sold shares of CRM. Norges Bank acquired a new stake in shares of Salesforce during the fourth quarter worth $1,420,381,000. Moneta Group Investment Advisors LLC raised its stake in Salesforce by 125,717.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock worth $1,360,428,000 after acquiring an additional 10,252,257 shares during the last quarter. Capital International Investors lifted its position in Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares during the period. Cerity Partners LLC grew its stake in Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after purchasing an additional 3,226,512 shares during the last quarter. Finally, Starboard Value LP acquired a new position in shares of Salesforce in the fourth quarter valued at about $401,215,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRM. Bank of America lifted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Mizuho restated a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. increased their target price on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $304.32.

Check Out Our Latest 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.