Insider Selling: Salesforce.com Inc. (CRM) EVP Sells $666,801.48 in Stock
Salesforce.com Inc. (NYSE:CRM) EVP Amy E. Weaver sold 9,381 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $71.08, for a total transaction of $666,801.48. Following the completion of the transaction, the executive vice president now directly owns 23,261 shares in the company, valued at $1,653,391.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Salesforce.com Inc. (NYSE:CRM) opened at 70.91 on Monday. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The firm has a 50-day moving average of $74.35 and a 200 day moving average of $77.70. The firm has a market capitalization of $48.57 billion, a PE ratio of 218.86 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last issued its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm earned $2.04 billion during 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 company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the business earned $0.19 earnings per share. Equities research analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
A number of equities research analysts recently issued reports on CRM shares. Bank of America Corp. reiterated a “buy” rating and issued a $70.52 price objective (down from $100.00) on shares of Salesforce.com in a report on Wednesday, October 5th. Vetr upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating in a report on Friday, September 23rd. Morgan Stanley decreased their price objective on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Monday, August 15th. Finally, 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 report on Thursday, September 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $92.56.
Institutional investors have recently modified their holdings of the company. Signaturefd LLC raised its position 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 in the last quarter. M&R Capital Management Inc. acquired a new position in shares of Salesforce.com during the second quarter worth $119,000. Ropes Wealth Advisors LLC raised its position 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 in the last quarter. Mycio Wealth Partners LLC raised its position 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 in the last quarter. Finally, Trust Co. of Vermont raised its position 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 in the last quarter. 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.
Receive News & Ratings for Salesforce.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.