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

Posted by James Conley on Apr 15th, 2024

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $295.74, for a total value of $4,436,100.00. Following the completion of the transaction, the chief executive officer now owns 12,928,721 shares in the company, valued at $3,823,539,948.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

On Wednesday, April 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $299.42, for a total value of $4,491,300.00.
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 value 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 value of $4,502,100.00.
On Wednesday, April 3rd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $305.42, for a total value 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 shares were sold at an average price of $305.86, for a total value of $4,587,900.00.
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 shares were sold at an average price of $296.12, for a total value of $4,441,800.00.

Salesforce Trading Down 7.3 %

Shares of NYSE:CRM traded down $21.57 during trading hours on Monday, hitting $272.75. 18,360,212 shares of the company’s stock traded hands, compared to its average volume of 5,700,935. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The business has a fifty day moving average price of $298.82 and a 200-day moving average price of $259.77. The firm has a market capitalization of $264.57 billion, a P/E ratio of 65.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’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. Equities analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce’s payout ratio is 9.52%.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Wolfe Research upgraded Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price on the stock in a research report on Monday, December 18th. Stifel Nicolaus restated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research report on Wednesday, April 3rd. JMP Securities restated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research report on Monday. Wells Fargo & Company boosted their price objective on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price objective (up from $325.00) on shares of Salesforce in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $306.26.

Get Our Latest Analysis on CRM

Institutional Trading of Salesforce

A number of large investors have recently modified their holdings of the company. Sovereign Financial Group Inc. lifted its holdings in Salesforce by 5.2% during the first quarter. Sovereign Financial Group Inc. now owns 1,147 shares of the CRM provider’s stock worth $345,000 after buying an additional 57 shares during the period. Brookstone Capital Management lifted its holdings in Salesforce by 1.6% during the first quarter. Brookstone Capital Management now owns 39,088 shares of the CRM provider’s stock worth $11,773,000 after buying an additional 622 shares during the period. RMR Wealth Builders lifted its holdings in Salesforce by 38.4% during the first quarter. RMR Wealth Builders now owns 8,640 shares of the CRM provider’s stock worth $2,602,000 after buying an additional 2,397 shares during the period. Chemistry Wealth Management LLC lifted its holdings in Salesforce by 15.7% during the first quarter. Chemistry Wealth Management LLC now owns 4,926 shares of the CRM provider’s stock worth $1,484,000 after buying an additional 670 shares during the period. Finally, CFM Wealth Partners LLC lifted its holdings in Salesforce by 2.4% during the first quarter. CFM Wealth Partners LLC now owns 42,570 shares of the CRM provider’s stock worth $12,821,000 after buying an additional 1,004 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

(Get Free Report)

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.