Salesforce, Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $301.45, for a total value of $4,521,750.00. Following the completion of the sale, the chief executive officer now directly owns 13,041,166 shares in the company, valued at $3,931,259,490.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Marc Benioff also recently made the following trade(s):
- 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.
- 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 value 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 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 value of $4,593,450.00.
- On Monday, March 11th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $304.97, for a total value of $4,574,550.00.
- On Wednesday, March 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $304.25, for a total value of $4,563,750.00.
- On Friday, March 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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.
Salesforce Stock Down 0.1 %
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Shares of NYSE CRM opened at $301.18 on Friday. The stock has a market cap of $292.14 billion, a PE ratio of 71.71, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $187.31 and a 52-week high of $318.71. The business has a 50-day moving average price of $294.19 and a 200 day moving average price of $252.10.
Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to analysts' expectations of $9.22 billion. During the same period last year, the firm earned $1.01 EPS. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.
Salesforce Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.53%. Salesforce's payout ratio is 9.52%.
Analyst Ratings Changes
Several research firms recently issued reports on CRM. Stifel Nicolaus boosted their price objective on Salesforce from $300.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. Morgan Stanley upgraded Salesforce from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $290.00 to $350.00 in a report on Thursday, December 21st. Citigroup boosted their price objective on Salesforce from $265.00 to $325.00 and gave the company a "neutral" rating in a report on Monday, February 26th. Bank of America boosted their price objective on Salesforce from $350.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Finally, Wolfe Research upgraded Salesforce from a "peer perform" rating to an "outperform" rating and set a $315.00 price objective on the stock in a report on Monday, December 18th. 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. According to MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average price target of $304.32.
Read Our Latest Analysis on CRM
Institutional Trading of Salesforce
A number of hedge funds have recently added to or reduced their stakes in CRM. Osterweis Capital Management Inc. raised its stake in shares of Salesforce by 463.1% during the 2nd quarter. Osterweis Capital Management Inc. now owns 3,283 shares of the CRM provider's stock worth $694,000 after buying an additional 2,700 shares in the last quarter. Pointe Capital Management LLC raised its stake in shares of Salesforce by 370.0% during the 2nd quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider's stock worth $328,000 after buying an additional 1,221 shares in the last quarter. Walkner Condon Financial Advisors LLC raised its stake in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider's stock worth $534,000 after buying an additional 74 shares in the last quarter. Procyon Advisors LLC raised its stake in shares of Salesforce by 72.3% during the 3rd quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider's stock worth $5,978,000 after buying an additional 12,371 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Salesforce during the 2nd quarter worth approximately $341,000. 80.43% of the stock is owned by institutional investors and hedge funds.
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.
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