Traders Sell Shares of salesforce.com (CRM) on Strength on Insider Selling
Traders sold shares of salesforce.com, inc. (NYSE:CRM) on strength during trading hours on Thursday following insider selling activity. $342.84 million flowed into the stock on the tick-up and $355.39 million flowed out of the stock on the tick-down, for a money net flow of $12.55 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 $1.43 for the day and closed at $139.24Specifically, Director Susan Wojcicki acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, July 25th. The shares were bought at an average cost of $146.22 per share, with a total value of $877,320.00. Following the purchase, the director now directly owns 77,426 shares of the company’s stock, valued at $11,321,229.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $142.75, for a total value of $1,427,500.00. The disclosure for this sale can be found here. In the last quarter, insiders acquired 24,000 shares of company stock worth $3,581,220 and sold 548,868 shares worth $83,063,855. Insiders own 6.00% of the company’s stock.
A number of research analysts have recently issued reports on CRM shares. SunTrust Banks boosted their price objective on salesforce.com to $170.00 and gave the company a “positive” rating in a research note on Thursday, August 30th. Pivotal Research upped their price target on salesforce.com from $120.00 to $140.00 and gave the stock a “hold” rating in a research note on Tuesday, September 4th. Morgan Stanley upped their price target on salesforce.com from $153.00 to $178.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 14th. JPMorgan Chase & Co. upped their price target on salesforce.com to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 30th. Finally, Robert W. Baird upped their price target on salesforce.com from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Five analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. salesforce.com has an average rating of “Buy” and an average price target of $164.62.
The company has a market capitalization of $120.34 billion, a P/E ratio of 324.30, a P/E/G ratio of 5.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.
Several hedge funds have recently added to or reduced their stakes in CRM. FMR LLC grew its holdings in shares of salesforce.com by 3.5% in the second quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock valued at $12,224,319,000 after acquiring an additional 3,066,099 shares in the last quarter. BlackRock Inc. grew its holdings in salesforce.com by 5.2% during the second quarter. BlackRock Inc. now owns 44,655,653 shares of the CRM provider’s stock valued at $6,091,032,000 after purchasing an additional 2,212,408 shares during the period. Summit Trail Advisors LLC grew its holdings in salesforce.com by 13,535.6% during the first quarter. Summit Trail Advisors LLC now owns 1,814,629 shares of the CRM provider’s stock valued at $1,815,000 after purchasing an additional 1,801,321 shares during the period. OppenheimerFunds Inc. grew its holdings in salesforce.com by 13,746.1% during the second quarter. OppenheimerFunds Inc. now owns 1,034,856 shares of the CRM provider’s stock valued at $141,154,000 after purchasing an additional 1,027,382 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in salesforce.com by 14.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,533,328 shares of the CRM provider’s stock valued at $1,027,545,000 after purchasing an additional 961,104 shares during the period. 82.75% of the stock is owned by institutional investors.
About salesforce.com (NYSE:CRM)
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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