Salesforce, Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 15,000 shares of the company's stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $278.63, for a total transaction of $4,179,450.00. Following the completion of the sale, the chief executive officer now directly owns 12,632,327 shares of the company's stock, valued at $3,519,745,272.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Marc Benioff also recently made the following trade(s):
- On Monday, May 6th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $275.45, for a total value of $4,131,750.00.
- On Friday, May 3rd, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $275.01, for a total value of $4,125,150.00.
- On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00.
- 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 transaction 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 transaction 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 transaction 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 value of $4,152,450.00.
- On Monday, April 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $278.06, for a total value of $4,170,900.00.
Salesforce Stock Down 1.4 %
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Shares of CRM stock opened at $275.17 on Friday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. 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 business's fifty day moving average is $292.87 and its 200-day moving average is $268.07. The stock has a market cap of $266.36 billion, a PE ratio of 65.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30.
Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $9.22 billion. During the same period in the previous year, the business earned $1.01 earnings per share. Salesforce's revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. 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 (DPR) is 9.52%.
Analyst Ratings Changes
CRM has been the topic of a number of research reports. Jefferies Financial Group increased their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a "buy" rating in a research note on Monday, April 22nd. Evercore ISI lifted their price objective on Salesforce from $290.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Oppenheimer increased their target price on Salesforce from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Monday, February 12th. JPMorgan Chase & Co. upped their price objective on Salesforce from $260.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. Finally, KeyCorp started coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a "sector weight" rating on the stock. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $310.61.
Check Out Our Latest Stock Analysis on CRM
Institutional Investors Weigh In On Salesforce
Institutional investors and hedge funds have recently modified their holdings of the stock. Marks Group Wealth Management Inc increased its stake in Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider's stock worth $9,268,000 after purchasing an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider's stock valued at $2,206,000 after acquiring an additional 105 shares during the period. Pure Financial Advisors LLC acquired a new position in Salesforce in the 4th quarter worth approximately $214,000. Lone Pine Capital LLC grew its position in Salesforce by 47.5% during the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider's stock worth $506,875,000 after purchasing an additional 804,634 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in Salesforce by 0.8% during the 3rd quarter. Blair William & Co. IL now owns 821,761 shares of the CRM provider's stock valued at $166,637,000 after purchasing an additional 6,888 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.
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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