Salesforce Inc. (NYSE:CRM) CEO Sells $599,760.00 in Stock

Salesforce Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $266.56, for a total transaction of $599,760.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,175,148,365.76. This trade 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 accessible through this hyperlink.

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

• 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 transaction 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 transaction 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 value 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 value 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 shares were sold at an average price of $271.69, for a total transaction of $611,302.50.
• On Monday, July 7th, Marc Benioff sold 2,250 shares of Salesforce stock. The shares were sold at an average price of $270.82, for a total transaction of $609,345.00.
• 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 shares were sold at an average price of $272.48, for a total transaction of $613,080.00.

Salesforce Trading Up 0.8%

Shares of CRM stock traded up $2.12 during trading hours on Friday, hitting $269.82. 2,774,188 shares of the company were exchanged, compared to its average volume of 7,142,158. The firm has a market cap of $257.95 billion, a P/E ratio of 42.23, a P/E/G ratio of 2.42 and a beta of 1.36. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50 day simple moving average of $268.50 and a two-hundred day simple moving average of $284.66.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter last year, the firm posted $2.44 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued 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 0.62%. Salesforce's dividend payout ratio is currently 25.98%.

Institutional Investors Weigh In On Salesforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter worth about $25,000. Painted Porch Advisors LLC boosted its position 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 during the last quarter. Accredited Wealth Management LLC purchased a new position in Salesforce in the fourth quarter worth about $27,000. Capital A Wealth Management LLC grew its position in shares of Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 85 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on CRM shares. DA Davidson restated an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Stephens reduced their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Sanford C. Bernstein boosted 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, Oppenheimer reiterated an "outperform" rating and issued a $370.00 price objective on shares of Salesforce in a research note on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.16.

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.