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 7th. The shares were sold at an average price of $270.82, for a total transaction of $609,345.00. Following the sale, the chief executive officer owned 11,862,457 shares in the company, valued at approximately $3,212,590,604.74. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 Down 0.8%

Shares of CRM stock traded down $2.27 during trading hours on Wednesday, reaching $271.38. 1,163,107 shares of the stock were exchanged, compared to its average volume of 6,522,666. The business's fifty day moving average is $272.48 and its two-hundred day moving average is $290.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. The firm has a market capitalization of $259.44 billion, a P/E ratio of 42.49, a P/E/G ratio of 2.45 and a beta of 1.36.

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

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRM shares. Jefferies Financial Group decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company raised their price target on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Stephens cut their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Northland Securities cut their price target on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Finally, DA Davidson reissued an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $349.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce in the 4th quarter worth approximately $27,000. Capital A Wealth Management LLC boosted its holdings in Salesforce by 450.0% in 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 period. CBIZ Investment Advisory Services LLC boosted its holdings in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares during the period. Finally, Abound Financial LLC purchased a new position in Salesforce in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

About Salesforce

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.