Salesforce, Inc. (NYSE:CRM) CEO Sells $4,125,150.00 in Stock

Posted by Teresa Graham on May 6th, 2024

Salesforce, Inc. (NYSE:CRM – Get Free Report) CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $275.01, for a total value of $4,125,150.00. Following the completion of the sale, the chief executive officer now owns 12,677,327 shares in the company, valued at $3,486,391,698.27. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

On Wednesday, May 1st, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00.
On Monday, April 29th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $274.79, for a total transaction of $4,121,850.00.
On Friday, April 26th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $275.07, for a total transaction of $4,126,050.00.
On Wednesday, April 24th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $276.65, for a total transaction of $4,149,750.00.
On Monday, April 22nd, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $274.03, for a total value of $4,110,450.00.
On Friday, April 19th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $270.94, for a total value of $4,064,100.00.
On Wednesday, April 17th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $276.83, for a total transaction of $4,152,450.00.
On Monday, April 15th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $278.06, for a total value of $4,170,900.00.
On Friday, April 12th, Marc Benioff sold 15,000 shares of Salesforce stock. The shares were sold at an average price of $295.74, for a total transaction of $4,436,100.00.
On Wednesday, April 10th, Marc Benioff sold 15,000 shares of Salesforce stock. The stock was sold at an average price of $299.42, for a total transaction of $4,491,300.00.

Salesforce Trading Up 0.7 %

Shares of CRM stock traded up $1.97 on Monday, reaching $275.63. 3,723,368 shares of the stock were exchanged, compared to its average volume of 5,550,363. The stock has a market cap of $266.81 billion, a PE ratio of 65.48, a P/E/G ratio of 2.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The stock has a 50 day moving average price of $294.23 and a 200 day moving average price of $267.00.

Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s payout ratio is presently 9.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Mizuho restated a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. BMO Capital Markets increased their price target on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price target on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Citigroup raised their target price on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

View Our Latest Report on CRM

Hedge Funds Weigh In On Salesforce

A number of hedge funds have recently modified their holdings of CRM. Concord Wealth Partners raised its holdings in Salesforce by 145.4% during the 3rd quarter. Concord Wealth Partners now owns 3,060 shares of the CRM provider’s stock valued at $621,000 after buying an additional 1,813 shares during the period. JB Capital LLC raised its position in Salesforce by 51.6% during the third quarter. JB Capital LLC now owns 1,643 shares of the CRM provider’s stock valued at $333,000 after acquiring an additional 559 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Salesforce by 21.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,839 shares of the CRM provider’s stock worth $373,000 after purchasing an additional 328 shares during the period. Ocean Capital Management LLC raised its position in shares of Salesforce by 12.5% during the 3rd quarter. Ocean Capital Management LLC now owns 11,895 shares of the CRM provider’s stock worth $2,412,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its position in Salesforce by 1.6% during the third quarter. Calamos Wealth Management LLC now owns 3,412 shares of the CRM provider’s stock worth $692,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

About Salesforce

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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.