Salesforce, Inc. (NYSE:CRM - Get Free Report) 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 transaction, the chief executive officer now owns 12,707,327 shares of the company's stock, valued at $3,425,005,846.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Marc Benioff also recently made the following trade(s):
- On Monday, April 29th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $274.79, for a total value 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 value 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 stock was 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 stock was 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 shares were sold at an average price of $276.83, for a total value 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 value 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 value of $4,436,100.00.
- 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.
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Shares of NYSE:CRM opened at $272.13 on Friday. The business has a 50 day simple moving average of $294.61 and a two-hundred day simple moving average of $265.72. The firm has a market capitalization of $263.97 billion, a PE ratio of 64.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.30. 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, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71.
Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.
Salesforce Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce's dividend payout ratio (DPR) is presently 9.52%.
Institutional Investors Weigh In On Salesforce
Large investors have recently made changes to their positions in the stock. 1834 Investment Advisors Co. boosted its holdings in Salesforce by 12.1% in the third quarter. 1834 Investment Advisors Co. now owns 4,075 shares of the CRM provider's stock valued at $826,000 after purchasing an additional 440 shares during the last quarter. Simon Quick Advisors LLC boosted its holdings in Salesforce by 10.1% in the third quarter. Simon Quick Advisors LLC now owns 2,885 shares of the CRM provider's stock valued at $585,000 after purchasing an additional 265 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Salesforce by 13.6% in the third quarter. Stratos Wealth Partners LTD. now owns 35,960 shares of the CRM provider's stock valued at $7,292,000 after purchasing an additional 4,313 shares during the last quarter. First United Bank & Trust boosted its holdings in Salesforce by 2.3% in the third quarter. First United Bank & Trust now owns 4,182 shares of the CRM provider's stock valued at $848,000 after purchasing an additional 95 shares during the last quarter. Finally, Talbot Financial LLC boosted its holdings in Salesforce by 1.5% in the third quarter. Talbot Financial LLC now owns 56,266 shares of the CRM provider's stock valued at $11,410,000 after purchasing an additional 812 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Salesforce from $260.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. TheStreet raised Salesforce from a "c+" rating to a "b-" rating in a research report on Friday, January 19th. Jefferies Financial Group upped their price target on Salesforce from $350.00 to $360.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $365.00 price target on shares of Salesforce in a research report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $310.61.
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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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