Traders Buy High Volume of Salesforce.com Put Options (CRM)
Salesforce.com Inc (NYSE:CRM) was the target of unusually large options trading on Monday. Stock investors bought 13,124 put options on the stock. This represents an increase of approximately 114% compared to the average daily volume of 6,134 put options.
A number of research firms have weighed in on CRM. Credit Suisse Group began coverage on Salesforce.com in a research note on Tuesday, August 1st. They set an “outperform” rating and a $110.00 price objective for the company. Zacks Investment Research upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Monday, August 21st. Wells Fargo & Company reaffirmed a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a research report on Thursday, August 24th. BNP Paribas reaffirmed a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a research report on Friday, August 25th. Finally, JMP Securities reaffirmed a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $102.28.
In other Salesforce.com news, insider Amy E. Weaver sold 1,400 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $87.04, for a total transaction of $121,856.00. Following the completion of the sale, the insider now owns 16,513 shares of the company’s stock, valued at $1,437,291.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $86.00, for a total value of $860,000.00. Following the sale, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at approximately $2,940,795,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 624,571 shares of company stock valued at $56,655,922. 6.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Analysts LLC grew its stake in Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after purchasing an additional 156 shares in the last quarter. Peddock Capital Advisors LLC grew its stake in Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after purchasing an additional 1,350 shares in the last quarter. People s United Financial Inc. grew its stake in Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after purchasing an additional 550 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in Salesforce.com in the second quarter worth approximately $130,000. Finally, First Personal Financial Services grew its stake in Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.
Shares of Salesforce.com (NYSE CRM) traded up 0.03% during trading on Friday, reaching $94.89. The company’s stock had a trading volume of 868,083 shares. The company has a 50 day moving average of $93.14 and a 200-day moving average of $88.31. The stock’s market cap is $68.20 billion. Salesforce.com has a 12-month low of $66.43 and a 12-month high of $98.22.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. Analysts forecast that Salesforce.com will post $1.32 EPS for the current year.
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Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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