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 business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the sale, the chief executive officer now owns 12,707,327 shares in the company, valued at approximately $3,425,005,846.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 transaction of $4,121,850.00.
• On Friday, April 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $275.07, for a total transaction 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 value of $4,110,450.00.
• On Friday, April 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00.
• 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 transaction of $4,152,450.00.
• On Monday, April 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $278.06, for a total transaction 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 transaction of $4,436,100.00.
• 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 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 value of $4,530,450.00.

Salesforce Trading Up 0.6 %

Shares of CRM opened at $273.66 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $264.90 billion, a PE ratio of 65.16, a PEG ratio of 2.09 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71. The stock has a 50 day simple moving average of $294.23 and a 200-day simple moving average of $266.17.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company posted $1.01 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $26,000. Red Tortoise LLC bought a new position in shares of Salesforce in the first quarter worth about $33,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce during the fourth quarter worth approximately $31,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $34,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several recent research reports. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. JMP Securities reissued a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research report on Monday, April 15th. Robert W. Baird raised their price target on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Wedbush upped their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Argus raised their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

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.