Salesforce, Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00. Following the transaction, the chief executive officer now directly owns 12,928,721 shares of the company's stock, valued at $3,823,539,948.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Marc Benioff also recently made the following trade(s):
- 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 value 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.
- On Friday, April 5th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were 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 stock was 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 stock was 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 stock was 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.
- 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 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 Stock Performance
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Salesforce stock opened at $272.75 on Tuesday. The stock's 50 day simple moving average is $298.52 and its two-hundred day simple moving average is $260.26. 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 stock has a market cap of $264.57 billion, a price-to-earnings ratio of 64.94, a PEG ratio of 2.26 and a beta of 1.28. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71.
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, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business's revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. As a group, analysts expect that Salesforce, Inc. will post 7.45 earnings per share 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 given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce's payout ratio is 9.52%.
Institutional Trading of Salesforce
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Salesforce by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 83,626,413 shares of the CRM provider's stock worth $22,005,454,000 after purchasing an additional 1,240,821 shares in the last quarter. State Street Corp boosted its position in shares of Salesforce by 0.9% in the 1st quarter. State Street Corp now owns 45,509,345 shares of the CRM provider's stock worth $9,091,832,000 after purchasing an additional 391,648 shares in the last quarter. Capital World Investors boosted its position in shares of Salesforce by 2.4% in the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider's stock worth $5,147,402,000 after purchasing an additional 457,463 shares in the last quarter. Morgan Stanley boosted its position in shares of Salesforce by 0.8% in the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider's stock worth $2,519,719,000 after purchasing an additional 149,012 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider's stock worth $3,926,323,000 after purchasing an additional 752,566 shares in the last quarter. 80.43% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Argus lifted their price objective on Salesforce from $290.00 to $354.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Canaccord Genuity Group reissued a "buy" rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. JMP Securities reissued a "market outperform" rating and set a $342.00 price objective on shares of Salesforce in a research note on Monday. Wells Fargo & Company lifted their price objective on Salesforce from $280.00 to $290.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 21st. Finally, Wolfe Research upgraded Salesforce from a "peer perform" rating to an "outperform" rating and set a $315.00 price target on the stock in a research report on Monday, December 18th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $306.26.
Read Our Latest Analysis on Salesforce
About Salesforce
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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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