Salesforce, Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $305.42, for a total value of $4,581,300.00. Following the completion of the transaction, the chief executive officer now owns 12,981,166 shares of the company's stock, valued at $3,964,707,719.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Marc Benioff also recently made the following trade(s):
- 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 transaction 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 transaction 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 transaction 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 shares were 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 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 stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00.
Salesforce Stock Performance
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Shares of CRM opened at $294.14 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a twelve month low of $187.31 and a twelve month high of $318.71. The firm's 50 day moving average price is $296.96 and its two-hundred day moving average price is $255.27. The firm has a market cap of $285.32 billion, a P/E ratio of 70.03, a PEG ratio of 2.34 and a beta of 1.28.
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 for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm 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 firm posted $1.01 earnings per share. The business's revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.
Salesforce Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, March 13th. Salesforce's payout ratio is currently 9.52%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CRM. Evercore ISI boosted their price target on shares of Salesforce from $290.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th. Robert W. Baird increased their target price on Salesforce from $310.00 to $355.00 and gave the stock an "outperform" rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on shares of Salesforce from $260.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. Canaccord Genuity Group restated a "buy" rating and issued a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Finally, KeyCorp assumed coverage on Salesforce in a report on Thursday, March 21st. They set a "sector weight" rating on the stock. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $304.97.
Get Our Latest Stock Report on Salesforce
Institutional Trading of Salesforce
A number of institutional investors have recently made changes to their positions in the business. Graypoint LLC lifted its position in shares of Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider's stock worth $2,764,000 after purchasing an additional 36 shares in the last quarter. Chase Investment Counsel Corp lifted its position in shares of Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider's stock worth $2,730,000 after purchasing an additional 36 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider's stock worth $93,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC lifted its position in shares of Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider's stock worth $341,000 after purchasing an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC lifted its position in shares of Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider's stock worth $604,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 80.43% of the company's stock.
About Salesforce
(
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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