Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Friday, August 29th. The stock was sold at an average price of $255.30, for a total transaction of $574,425.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,041,024,076.30. This represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Marc Benioff also recently made the following trade(s):
- On Wednesday, August 27th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $248.56, for a total transaction of $559,260.00.
- On Monday, August 25th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $247.57, for a total transaction of $557,032.50.
- On Friday, August 22nd, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $247.67, for a total transaction of $557,257.50.
- On Wednesday, August 20th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $246.07, for a total transaction of $553,657.50.
- On Monday, August 18th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $242.44, for a total transaction of $545,490.00.
- On Friday, August 15th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $241.49, for a total transaction of $543,352.50.
- On Wednesday, August 13th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $234.64, for a total transaction of $527,940.00.
- On Monday, August 11th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $236.45, for a total transaction of $532,012.50.
- On Friday, August 8th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $240.34, for a total transaction of $540,765.00.
- On Wednesday, August 6th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $248.40, for a total transaction of $558,900.00.
Salesforce Stock Down 1.3%
CRM stock traded down $3.31 during midday trading on Tuesday, reaching $252.94. 9,290,237 shares of the company's stock traded hands, compared to its average volume of 7,251,401. The company has a market cap of $241.81 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 2.33 and a beta of 1.22. The firm's fifty day moving average price is $257.20 and its 200-day moving average price is $268.36. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00.
Salesforce Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a dividend of $0.416 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce's payout ratio is 25.98%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. AIA Group Ltd lifted its holdings in shares of Salesforce by 8.0% during the 1st quarter. AIA Group Ltd now owns 32,885 shares of the CRM provider's stock worth $8,825,000 after acquiring an additional 2,436 shares during the last quarter. Notis McConarty Edward grew its holdings in shares of Salesforce by 71.6% during the 1st quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock valued at $1,032,000 after purchasing an additional 1,604 shares during the last quarter. Aberdeen Group plc grew its holdings in shares of Salesforce by 1.5% during the 1st quarter. Aberdeen Group plc now owns 1,036,482 shares of the CRM provider's stock valued at $274,802,000 after purchasing an additional 15,782 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Salesforce by 43.0% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 104,834 shares of the CRM provider's stock valued at $28,133,000 after purchasing an additional 31,537 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its holdings in shares of Salesforce by 121.9% during the 1st quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock valued at $95,222,000 after purchasing an additional 195,000 shares during the last quarter. Institutional investors own 80.43% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Bank of America lowered their target price on Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Tuesday, August 26th. Morgan Stanley boosted their target price on Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Barclays lowered their target price on Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $341.50.
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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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