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

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $270.94, for a total value of $4,064,100.00. Following the transaction, the chief executive officer now owns 12,827,327 shares of the company’s stock, valued at $3,475,435,977.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 value of $4,170,900.00.
• On Friday, April 12th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00.
• On Wednesday, April 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $299.42, for a total transaction of $4,491,300.00.
• On Monday, April 8th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 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 shares were 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 stock was sold at an average price of $305.86, for a total value of $4,587,900.00.

Salesforce Stock Performance

NYSE:CRM traded up $3.46 during mid-day trading on Monday, reaching $273.83. The stock had a trading volume of 6,741,842 shares, compared to its average volume of 5,712,625. The business has a 50 day simple moving average of $297.28 and a 200 day simple moving average of $262.29. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $265.62 billion, a price-to-earnings ratio of 65.19, a PEG ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRM shares. KeyCorp initiated coverage on Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Truist Financial reissued a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Monday, April 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Monday, April 15th. Nine investment 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 company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Hedge Funds Weigh In On Salesforce

Large investors have recently modified their holdings of the stock. Bear Mountain Capital Inc. purchased a new position in Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce in the 4th quarter worth approximately $31,000. Pacifica Partners Inc. lifted its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the period. Finally, Red Tortoise LLC acquired a new position in shares of Salesforce in the first quarter valued at about $33,000. 80.43% of the stock is owned by institutional investors.

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.