Maynard G. Webb, Jr. Sells 15,000 Shares of Salesforce.com Inc. (CRM) Stock
Salesforce.com Inc. (NYSE:CRM) Director Maynard G. Webb, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $75.00, for a total value of $1,125,000.00. Following the sale, the director now owns 32,832 shares in the company, valued at approximately $2,462,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Salesforce.com Inc. (NYSE:CRM) opened at 70.63 on Friday. The firm’s 50-day moving average is $73.77 and its 200-day moving average is $77.67. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48. The firm has a market cap of $48.38 billion, a price-to-earnings ratio of 217.99 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 2.91% and a return on equity of 2.19%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Analysts predict that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on CRM. Robert W. Baird reiterated an “outperform” rating and set a $90.00 price target on shares of Salesforce.com in a research report on Wednesday. Cowen and Company reiterated an “outperform” rating and set a $100.00 price target on shares of Salesforce.com in a research report on Wednesday. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $95.00 price target on shares of Salesforce.com in a research report on Wednesday. JMP Securities reiterated a “buy” rating and set a $92.00 price target on shares of Salesforce.com in a research report on Monday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a research report on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $92.51.
Several hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its stake in Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock valued at $16,360,000 after buying an additional 2,648 shares in the last quarter. Bank of Montreal Can purchased a new stake in Salesforce.com during the second quarter valued at about $31,592,000. Soroban Capital Partners LP purchased a new stake in Salesforce.com during the first quarter valued at about $290,380,000. Tybourne Capital Management HK Ltd. purchased a new stake in Salesforce.com during the first quarter valued at about $72,518,000. Finally, Thrax Management LLC raised its stake in Salesforce.com by 42.5% in the first quarter. Thrax Management LLC now owns 401,562 shares of the CRM provider’s stock valued at $29,647,000 after buying an additional 119,731 shares in the last quarter. Institutional investors and hedge funds 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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