Traders Sell Salesforce.com Inc. (CRM) on Strength on Insider Selling
Investors sold shares of Salesforce.com Inc. (NYSE:CRM) on strength during trading on Monday following insider selling activity. $339.33 million flowed into the stock on the tick-up and $384.10 million flowed out of the stock on the tick-down, for a money net flow of $44.77 million out of the stock. Of all companies tracked, Salesforce.com had the 0th highest net out-flow for the day. Salesforce.com traded up $4.19 for the day and closed at $75.10Specifically, Director Susan Wojcicki bought 1,356 shares of the stock in a transaction on Monday, September 19th. The stock was purchased 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 directly owns 14,147 shares in the company, valued at $1,042,775.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 12,500 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $81.67, for a total transaction of $1,020,875.00. Following the sale, the chief executive officer now owns 35,383,000 shares of the company’s stock, valued at approximately $2,889,729,610. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
Several analysts have weighed in on CRM shares. SunTrust Banks Inc. reiterated a “buy” rating and set a $98.00 target price on shares of Salesforce.com in a research note on Tuesday, June 14th. BMO Capital Markets initiated coverage on shares of Salesforce.com in a research report on Tuesday, June 14th. They set an “outperform” rating and a $98.00 price target for the company. Vetr upgraded shares of Salesforce.com from a “strong sell” rating to a “strong-buy” rating and set a $97.12 price target for the company in a research report on Tuesday, June 14th. Cowen and Company initiated coverage on shares of Salesforce.com in a research report on Friday, June 24th. They set an “outperform” rating and a $79.39 price target for the company. Finally, Brean Capital restated a “buy” rating and set a $110.00 price target on shares of Salesforce.com in a research report on Saturday, June 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $92.56.
The company’s 50-day moving average price is $74.14 and its 200 day moving average price is $77.76. The stock has a market cap of $49.61 billion, a PE ratio of 223.52 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. On average, equities research analysts predict that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CRM. Signaturefd LLC raised its position in 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. bought a new position in Salesforce.com during the second quarter worth $119,000. Ropes Wealth Advisors LLC raised its position in 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 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 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. Institutional investors and hedge funds own 87.23% of the company’s stock.
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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