Insider Buying: Salesforce.com Inc. (CRM) Director Buys $99,950.76 in Stock
Salesforce.com Inc. (NYSE:CRM) Director Susan Wojcicki acquired 1,356 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were bought at an average cost of $73.71 per share, for a total transaction of $99,950.76. Following the acquisition, the director now directly owns 14,147 shares in the company, valued at approximately $1,042,775.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Salesforce.com Inc. (NYSE:CRM) opened at 74.59 on Friday. The stock has a market cap of $51.09 billion, a price-to-earnings ratio of 230.22 and a beta of 1.57. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48. The stock’s 50 day moving average price is $77.18 and its 200 day moving average price is $77.77.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. Analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
A number of equities analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $100.00 price objective on shares of Salesforce.com in a report on Monday, August 15th. Mizuho raised their price objective on Salesforce.com from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 1st. Wedbush reissued an “outperform” rating and set a $98.00 price objective (up from $96.00) on shares of Salesforce.com in a report on Friday, August 26th. Finally, Vetr raised Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price objective on the stock in a report on Wednesday, August 10th. Three investment 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 company’s stock. Salesforce.com currently has a consensus rating of “Buy” and an average price target of $92.63.
A number of hedge funds have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock worth $107,000 after buying an additional 693 shares during the last quarter. M&R Capital Management Inc. purchased a new stake in shares of Salesforce.com during the second quarter worth about $119,000. Ropes Wealth Advisors LLC raised its stake in shares of Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock worth $143,000 after buying an additional 1,009 shares during the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock worth $154,000 after buying an additional 1,071 shares during the last quarter. 87.23% of the stock is currently owned by institutional investors.
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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