Marc Benioff Sells 2,250 Shares of Salesforce Inc. (NYSE:CRM) Stock

Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $262.93, for a total value of $591,592.50. Following the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $3,131,909,363.03. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, July 18th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $260.92, for a total value 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.
• On Friday, July 11th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $259.67, for a total transaction of $584,257.50.
• On Wednesday, July 9th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $271.69, for a total transaction of $611,302.50.
• On Monday, July 7th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $270.82, for a total transaction of $609,345.00.
• On Thursday, July 3rd, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $272.91, for a total transaction of $614,047.50.
• On Tuesday, July 1st, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $272.48, for a total transaction of $613,080.00.

Salesforce Stock Up 0.6%

Shares of NYSE CRM traded up $1.52 during mid-day trading on Tuesday, reaching $263.80. The company had a trading volume of 4,996,142 shares, compared to its average volume of 6,561,904. The stock has a fifty day moving average of $270.45 and a two-hundred day moving average of $285.85. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. The company has a market capitalization of $252.19 billion, a price-to-earnings ratio of 41.28, a PEG ratio of 2.38 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

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

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Hedge Funds Weigh In On Salesforce

Institutional investors have recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter worth about $25,000. Painted Porch Advisors LLC increased its stake in shares of Salesforce by 260.0% in the 2nd 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 in the last quarter. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $27,000. Capital A Wealth Management LLC lifted its stake in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of Salesforce by 314.8% during 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 period. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Northland Securities lowered their price target on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. DA Davidson reiterated an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Needham & Company LLC restated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Finally, UBS Group set a $404.00 target price on Salesforce and gave the company an "overweight" rating in a report on Wednesday, June 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.