Salesforce Inc. (NYSE:CRM) CEO Sells $532,012.50 in Stock

Key Points

• Marc Benioff, CEO of Salesforce, sold 2,250 shares for a total of $532,012.50 on August 11th, decreasing his position by 0.02%, yet he still owns approximately $2.82 billion worth of shares.
• Salesforce's stock traded down to $231.40 recently, with a market capitalization of $221.22 billion and a price-to-earnings ratio of 36.21.
• Analysts currently have a consensus rating of "Moderate Buy" for Salesforce, with a price target average set at $348.16.

Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $236.45, for a total value of $532,012.50. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $2,816,490,962.95. The trade was a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 stock was 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 stock was 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 stock was 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 stock was 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 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 stock was 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 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.

Salesforce Price Performance

Shares of NYSE:CRM traded down $1.28 on Tuesday, reaching $231.40. 13,174,908 shares of the company traded hands, compared to its average volume of 7,166,117. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $221.22 billion, a PE ratio of 36.21, a P/E/G ratio of 2.18 and a beta of 1.37. The company's 50 day moving average is $262.89 and its 200-day moving average is $278.04.

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 firm had revenue of $9.83 billion for 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 business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. As a group, analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm 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. 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 dividend payout ratio is presently 25.98%.

Hedge Funds Weigh In On Salesforce

Hedge funds have recently bought and sold shares of the business. Notis McConarty Edward grew its position in shares of Salesforce by 71.6% in the first quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock valued at $1,032,000 after purchasing an additional 1,604 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its position in shares of Salesforce by 121.9% in the first quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock valued at $95,222,000 after purchasing an additional 195,000 shares during the last quarter. Delaney Dennis R grew its position in shares of Salesforce by 66.1% in the first quarter. Delaney Dennis R now owns 5,694 shares of the CRM provider's stock valued at $1,528,000 after purchasing an additional 2,266 shares during the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of Salesforce by 34.5% in the first quarter. Journey Strategic Wealth LLC now owns 4,948 shares of the CRM provider's stock valued at $1,328,000 after buying an additional 1,270 shares during the period. Finally, Mathes Company Inc. lifted its stake in shares of Salesforce by 396.9% in the first quarter. Mathes Company Inc. now owns 12,298 shares of the CRM provider's stock valued at $3,300,000 after buying an additional 9,823 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CRM. Canaccord Genuity Group dropped their price objective on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. BMO Capital Markets dropped their price objective on Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday, July 10th. Citigroup dropped their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Sanford C. Bernstein raised their price target on Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research report on Thursday, May 29th. Finally, Wells Fargo & Company raised their price target on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

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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