Insider Selling: Salesforce Inc. (NYSE:CRM) CEO Sells 2,250 Shares of Stock

Key Points

• Salesforce CEO Marc Benioff sold 2,250 shares of the company's stock at an average price of $248.40, totaling $558,900. After the sale, he still owns approximately 11.9 million shares valued at nearly $2.96 billion.
• Salesforce shares experienced a 3.4% decrease and traded at $240.63, as nearly 10 million shares changed hands, which is above its average trading volume.
• Salesforce's most recent earnings revealed an EPS of $2.58, outpacing estimates, with revenue hitting $9.83 billion, marking a 7.6% year-over-year growth.

Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $248.40, for a total transaction of $558,900.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $2,958,834,236.40. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Marc Benioff also recently made the following trade(s):

• On Monday, August 4th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $252.42, for a total transaction of $567,945.00.
• On Friday, August 1st, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $251.94, for a total transaction of $566,865.00.
• On Wednesday, July 30th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $265.77, for a total transaction of $597,982.50.
• On Monday, July 28th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $269.11, for a total transaction of $605,497.50.
• On Friday, July 25th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $269.38, for a total transaction of $606,105.00.
• On Wednesday, July 23rd, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $266.56, for a total transaction of $599,760.00.
• On Monday, July 21st, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $262.93, for a total transaction of $591,592.50.
• On Friday, July 18th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $260.92, for a total transaction of $587,070.00.
• On Wednesday, July 16th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $257.02, for a total transaction of $578,295.00.
• On Monday, July 14th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $260.30, for a total transaction of $585,675.00.

Salesforce Trading Down 3.4%

Shares of Salesforce stock traded down $8.54 during mid-day trading on Thursday, hitting $240.63. 9,997,633 shares of the stock were exchanged, compared to its average volume of 7,093,006. The company has a 50-day simple moving average of $264.50 and a 200 day simple moving average of $280.68. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The stock has a market capitalization of $230.04 billion, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. Research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. Sanford C. Bernstein boosted their price target on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. UBS Group set a $404.00 target price on shares of Salesforce and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Stephens cut their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Finally, Barclays cut their target price on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $348.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $25,000. Painted Porch Advisors LLC raised its stake in shares of Salesforce by 260.0% during the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock valued at $25,000 after purchasing an additional 65 shares during the period. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter worth $27,000. Capital A Wealth Management LLC increased its stake in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Company Profile

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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