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Salesforce Inc. (NYSE:CRM) CEO Sells $597,982.50 in Stock

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Key Points

  • Marc Benioff, CEO of Salesforce, sold 2,250 shares at an average price of $265.77 for a total of $597,982.50, reducing his holdings by 0.02% to approximately $3.17 billion.
  • Salesforce's stock experienced a 2.4% decline, closing at $258.57, with a 50-day moving average of $266.97 and a market capitalization of $247.19 billion.
  • Following recent trades, Salesforce announced a quarterly dividend of $0.416 per share, yielding an annualized 0.6% dividend rate.
  • MarketBeat previews top five stocks to own in September.

Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $265.77, for a total value of $597,982.50. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $3,165,738,224.67. This represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

  • On Monday, July 28th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $269.11, for a total value 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 value 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 value 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 value 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 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 value 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 value 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 value of $584,257.50.
  • On Wednesday, July 9th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $271.69, for a total value 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.

Salesforce Price Performance

Shares of Salesforce stock traded down $7.48 during trading on Friday, reaching $250.85. The company's stock had a trading volume of 7,643,247 shares, compared to its average volume of 5,567,701. The stock has a 50-day moving average price of $266.04 and a two-hundred day moving average price of $282.19. 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 one year low of $230.00 and a one year high of $369.00. The stock has a market capitalization of $239.81 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.34 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating 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%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, sell-side analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Oppenheimer restated an "outperform" rating and issued a $370.00 price objective on shares of Salesforce in a research note on Tuesday, June 10th. BMO Capital Markets lowered their price objective on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating on the stock in a research note on Thursday, July 10th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Westpark Capital restated a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $348.16.

Get Our Latest Stock Report on CRM

Institutional Trading of Salesforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce during the 4th 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 acquiring an additional 65 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at about $27,000. Capital A Wealth Management LLC boosted its stake in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares during the period. 80.43% of the stock is owned by institutional investors.

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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