Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff Sells 317,105 Shares

Salesforce, Inc. (NYSE:CRM - Get Free Report) CEO Marc Benioff sold 317,105 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company's stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Salesforce Stock Up 2.2 %

CRM traded up $7.42 on Friday, hitting $343.65. The company had a trading volume of 14,740,856 shares, compared to its average volume of 6,451,860. The stock has a market capitalization of $328.87 billion, a price-to-earnings ratio of 56.52, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average price of $323.14 and a 200-day moving average price of $279.01. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.35 billion. During the same period in the previous year, the firm earned $1.62 EPS. The firm's quarterly revenue was up 8.3% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Wednesday, December 18th. Salesforce's dividend payout ratio (DPR) is presently 26.32%.

Institutional Investors Weigh In On Salesforce

A number of large investors have recently modified their holdings of the business. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter worth approximately $27,000. Clear Investment Research LLC raised its stake in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Stephens Consulting LLC grew its stake in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the second quarter worth about $33,000. Finally, Godsey & Gibb Inc. lifted its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRM. JMP Securities restated a "market outperform" rating and set a $450.00 price target on shares of Salesforce in a report on Wednesday. Northland Securities reaffirmed an "outperform" rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. FBN Securities upgraded shares of Salesforce to a "strong-buy" rating in a research report on Thursday, August 29th. Finally, Bank of America increased their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $378.86.

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.