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

Key Points

• Marc Benioff, CEO of Salesforce, recently sold 2,250 shares at an average price of $234.64, amounting to approximately $527,940, reducing his ownership by 0.02% to about 11.9 million shares.
• Salesforce's stock performance has been fluctuating; it recently traded down to $233.37, while having a 52-week low of $226.48 and a high of $369.00.
• Despite the stock's recent trades and fluctuations, analysts maintain a Moderate Buy rating on Salesforce, with an average target price of approximately $346.84.

Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $234.64, for a total value of $527,940.00. Following the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $2,794,931,019.44. 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 Monday, August 11th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $236.45, for a total value of $532,012.50.
• On Friday, August 8th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $240.34, for a total value of $540,765.00.
• On Wednesday, August 6th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $248.40, for a total value of $558,900.00.
• On Monday, August 4th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $252.42, for a total value of $567,945.00.
• On Friday, August 1st, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $251.94, for a total value of $566,865.00.
• On Wednesday, July 30th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $265.77, for a total value of $597,982.50.
• On Monday, July 28th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were 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.

Salesforce Price Performance

NYSE:CRM traded down $3.67 during mid-day trading on Thursday, hitting $233.37. The company's stock had a trading volume of 7,532,020 shares, compared to its average volume of 7,190,572. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. 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 company has a market capitalization of $223.10 billion, a price-to-earnings ratio of 36.52, a P/E/G ratio of 2.10 and a beta of 1.37. The stock has a fifty day moving average of $261.72 and a 200-day moving average of $277.44.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data 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. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter last year, the business posted $2.44 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. As a group, equities analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRM shares. JMP Securities reaffirmed a "market outperform" rating and set a $430.00 target price on shares of Salesforce in a research report on Friday, July 11th. Piper Sandler lifted their target price on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Canaccord Genuity Group dropped their target price on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Northland Securities dropped their target price on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Finally, Stifel Nicolaus dropped their target price on Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $346.84.

Hedge Funds Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently made changes to their positions in CRM. Norges Bank bought a new position in shares of Salesforce during the second quarter worth $2,826,049,000. Nuveen LLC bought a new position in shares of Salesforce during the first quarter worth $2,039,196,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Salesforce by 926.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Salesforce by 30,456.9% during the first quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after purchasing an additional 3,789,147 shares in the last quarter. Finally, 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 worth $933,737,000 after purchasing an additional 3,411,700 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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