Cynthia G. Robbins Sells 5,000 Shares of Salesforce.com Inc. (CRM) Stock
Salesforce.com Inc. (NYSE:CRM) EVP Cynthia G. Robbins sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $70.34, for a total transaction of $351,700.00. Following the completion of the transaction, the executive vice president now owns 1,379 shares of the company’s stock, valued at $96,998.86. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Salesforce.com Inc. (NYSE:CRM) opened at 70.52 on Tuesday. The stock has a 50 day moving average of $75.12 and a 200 day moving average of $77.82. The stock has a market cap of $48.31 billion, a P/E ratio of 217.65 and a beta of 1.59. Salesforce.com Inc. has a 1-year low of $52.60 and a 1-year high of $84.48.
Salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The company’s quarterly revenue was up 25.0% on a year-over-year basis. Equities analysts anticipate that Salesforce.com Inc. will post $0.95 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of Salesforce.com by 0.5% in the second quarter. Brighton Jones LLC now owns 4,270 shares of the CRM provider’s stock worth $339,000 after buying an additional 22 shares during the period. Hollencrest Securities LLC boosted its stake in shares of Salesforce.com by 0.9% in the second quarter. Hollencrest Securities LLC now owns 3,229 shares of the CRM provider’s stock worth $256,000 after buying an additional 29 shares during the period. Cornerstone Advisors Inc. boosted its stake in shares of Salesforce.com by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,552 shares of the CRM provider’s stock worth $282,000 after buying an additional 35 shares during the period. Integrated Investment Consultants LLC boosted its stake in shares of Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock worth $225,000 after buying an additional 37 shares during the period. Finally, Fulton Bank N.A. boosted its stake in shares of Salesforce.com by 0.3% in the second quarter. Fulton Bank N.A. now owns 12,763 shares of the CRM provider’s stock worth $1,014,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 87.23% of the company’s stock.
CRM has been the subject of a number of research analyst reports. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating in a research report on Friday, September 23rd. Morgan Stanley lowered their price objective on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, August 15th. Mizuho upped their price objective on shares of Salesforce.com from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. Finally, Wedbush reiterated an “outperform” rating and set a $98.00 price objective (up from $96.00) on shares of Salesforce.com in a research report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and forty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $92.63.
Salesforce.com Company Profile
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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