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

Key Points

• Marc Benioff, CEO of Salesforce, sold 2,250 shares of the company's stock on October 17, 2023, for approximately **$550,440**, reducing his ownership by 0.02% while still holding over **11.9 million shares** valued at nearly **$2.91 billion**.
• Salesforce's stock performance showed a **significant increase**, trading up to **$254.31** with a market capitalization of **$242.10 billion**, despite a **1-year low of $226.48** and high of $369.00.
• The firm declared a **quarterly dividend** of **$0.416**, representing a **0.7% yield**, with a payout ratio of **24.13%**, providing shareholders with consistent returns.

Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of the stock in a transaction on Friday, October 17th. The shares were sold at an average price of $244.64, for a total value of $550,440.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,914,046,729.44. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, October 15th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $238.37, for a total value of $536,332.50.
• On Friday, October 10th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $243.60, for a total value of $548,100.00.
• On Monday, October 13th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $245.91, for a total value of $553,297.50.
• On Wednesday, October 8th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $239.79, for a total value of $539,527.50.
• On Monday, October 6th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $241.32, for a total value of $542,970.00.
• On Wednesday, October 1st, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $236.38, for a total value of $531,855.00.
• On Monday, September 29th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $244.53, for a total value of $550,192.50.
• On Friday, September 26th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $242.91, for a total value of $546,547.50.
• On Wednesday, September 24th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $245.85, for a total value of $553,162.50.
• On Monday, September 22nd, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $248.19, for a total value of $558,427.50.

Salesforce Price Performance

CRM stock traded up $11.23 during trading on Monday, reaching $254.31. The company's stock had a trading volume of 9,952,121 shares, compared to its average volume of 7,791,044. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $242.10 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 2.04 and a beta of 1.19. The company's fifty day moving average is $244.38 and its 200-day moving average is $257.79.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business posted $2.56 EPS. Salesforce's revenue for the quarter was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce's dividend payout ratio is presently 24.13%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRM. Norges Bank purchased a new position in shares of Salesforce during the second quarter valued at approximately $2,826,049,000. Nuveen LLC purchased a new position in shares of Salesforce during the first quarter valued at approximately $2,039,196,000. Laurel Wealth Advisors LLC boosted its position in shares of Salesforce by 27,361.5% during the second quarter. Laurel Wealth Advisors LLC now owns 3,424,169 shares of the CRM provider's stock valued at $933,737,000 after buying an additional 3,411,700 shares during the period. Acadian Asset Management LLC boosted its position in shares of Salesforce by 1,729.6% during the second quarter. Acadian Asset Management LLC now owns 1,973,141 shares of the CRM provider's stock valued at $538,020,000 after buying an additional 1,865,297 shares during the period. Finally, Longview Partners Guernsey LTD purchased a new position in shares of Salesforce during the first quarter valued at approximately $467,944,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Macquarie reiterated a "neutral" rating and issued a $250.00 price target on shares of Salesforce in a research note on Thursday. Citigroup raised their price objective on Salesforce from $275.00 to $276.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. DA Davidson restated a "neutral" rating and set a $225.00 price objective on shares of Salesforce in a research report on Thursday. Piper Sandler restated an "overweight" rating and set a $315.00 price objective on shares of Salesforce in a research report on Thursday. Finally, UBS Group cut their price objective on Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Twenty-five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $325.23.

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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