Insider Selling: Salesforce, Inc. (NYSE:CRM) CEO Sells 317,105 Shares of Stock

Salesforce, Inc. (NYSE:CRM) CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Salesforce Stock Up 2.2 %

CRM opened at $343.65 on Friday. The business has a 50 day moving average price of $323.14 and a two-hundred day moving average price of $279.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $328.87 billion, a PE ratio of 56.52, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 earnings per share. As a group, research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CRM shares. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group boosted their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Phillip Securities reissued an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $378.86.

Hedge Funds Weigh In On Salesforce

Large investors have recently modified their holdings of the business. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the 2nd quarter worth approximately $33,000. Finally, Stephens Consulting LLC grew its holdings in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

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.