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

Key Points

• Marc Benioff, CEO of Salesforce Inc., sold 2,250 shares of the company's stock on August 1st at an average price of $251.94, totaling approximately $566,865, resulting in a 0.02% decrease in his ownership.
• Salesforce Inc. reported a net margin of 16.08% and a 7.6% increase in revenue compared to the same quarter last year, with earnings of $2.58 per share that exceeded analyst expectations.
• The company’s recent quarterly dividend was $0.416 per share, giving an annualized yield of 0.7%, reflecting a dividend payout ratio of 25.98%.

Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $251.94, for a total value of $566,865.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $3,001,001,197.74. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, July 30th, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was sold at an average price of $265.77, for a total transaction of $597,982.50.
• 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 stock was sold at an average price of $266.56, for a total transaction of $599,760.00.
• On Monday, July 21st, Marc Benioff sold 2,250 shares of Salesforce stock. The stock was 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 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 stock was 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 stock was sold at an average price of $271.69, for a total transaction of $611,302.50.

Salesforce Stock Up 0.6%

CRM stock traded up $1.47 during mid-day trading on Monday, hitting $252.21. The stock had a trading volume of 4,399,864 shares, compared to its average volume of 7,083,998. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The company has a fifty day moving average of $266.04 and a 200 day moving average of $281.65. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $241.11 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 2.28 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company'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 firm posted $2.44 earnings per share. On average, equities analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on CRM. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Stephens decreased their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Westpark Capital reaffirmed a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Wells Fargo & Company lifted their price objective on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Finally, Barclays dropped their price objective on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. Three investment 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $348.16.

Institutional Trading of Salesforce

Large investors have recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the fourth quarter worth about $27,000. Painted Porch Advisors LLC boosted its stake in Salesforce by 260.0% in the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock worth $25,000 after purchasing an additional 65 shares in the last quarter. Wood Tarver Financial Group LLC bought a new stake in Salesforce during the 4th quarter worth about $35,000. Finally, Capital A Wealth Management LLC lifted its position in shares of 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. 80.43% of the stock is owned by institutional investors.

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.

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