Investors Sell Salesforce.com Inc. (CRM) on Strength After Insider Selling
Investors sold shares of Salesforce.com Inc. (NYSE:CRM) on strength during trading hours on Thursday following insider selling activity. $52.30 million flowed into the stock on the tick-up and $119.39 million flowed out of the stock on the tick-down, for a money net flow of $67.09 million out of the stock. Of all stocks tracked, Salesforce.com had the 0th highest net out-flow for the day. Salesforce.com traded up $0.41 for the day and closed at $74.59Specifically, Director Craig Conway sold 400 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $81.86, for a total transaction of $32,744.00. Following the sale, the director now directly owns 9,268 shares in the company, valued at approximately $758,678.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan Wojcicki bought 1,356 shares of the business’s stock in a transaction on Monday, September 19th. The shares were acquired at an average price of $73.71 per share, for a total transaction of $99,950.76. Following the completion of the purchase, the director now owns 14,147 shares in the company, valued at approximately $1,042,775.37. The disclosure for this purchase can be found here. 6.70% of the stock is owned by corporate insiders.
Several brokerages have commented on CRM. DA Davidson set a $86.00 target price on Salesforce.com and gave the company a “hold” rating in a research note on Sunday, September 11th. Raymond James Financial Inc. set a $105.00 target price on Salesforce.com and gave the company a “buy” rating in a research note on Sunday, September 4th. FBN Securities set a $90.00 price target on Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, September 4th. Stifel Nicolaus restated a “buy” rating and issued a $93.00 price target on shares of Salesforce.com in a research note on Saturday, September 3rd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $90.00 price target (down from $95.00) on shares of Salesforce.com in a research note on Saturday, September 3rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and forty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $92.63.
The company has a market capitalization of $51.09 billion, a PE ratio of 230.22 and a beta of 1.57. The firm has a 50-day moving average of $77.18 and a 200-day moving average of $77.77.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business earned $0.19 EPS. Salesforce.com’s revenue for the quarter was up 25.0% compared to the same quarter last year. Analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
A number of large investors have recently made changes to their positions in CRM. Soroban Capital Partners LP bought a new stake in shares of Salesforce.com during the first quarter valued at approximately $290,380,000. Vanguard Group Inc. raised its position in Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock worth $3,130,829,000 after buying an additional 1,181,756 shares in the last quarter. American Century Companies Inc. raised its position in Salesforce.com by 54.4% in the second quarter. American Century Companies Inc. now owns 3,297,549 shares of the CRM provider’s stock worth $261,858,000 after buying an additional 1,161,596 shares in the last quarter. Waddell & Reed Financial Inc. raised its position in Salesforce.com by 489.5% in the second quarter. Waddell & Reed Financial Inc. now owns 1,384,048 shares of the CRM provider’s stock worth $109,908,000 after buying an additional 1,149,275 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. acquired a new position in Salesforce.com during the first quarter worth approximately $72,518,000. Hedge funds and other institutional investors own 87.23% of the company’s stock.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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