Traders Buy salesforce.com (CRM) on Weakness on Insider Selling
Traders purchased shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading hours on Tuesday following insider selling activity. $519.53 million flowed into the stock on the tick-up and $416.36 million flowed out of the stock on the tick-down, for a money net flow of $103.17 million into the stock. Of all stocks tracked, salesforce.com had the 9th highest net in-flow for the day. salesforce.com traded down ($0.34) for the day and closed at $120.67Specifically, CEO Keith Block sold 2,160 shares of the business’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $114.18, for a total transaction of $246,628.80. Following the transaction, the chief executive officer now directly owns 23,836 shares in the company, valued at $2,721,594.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joe Allanson sold 323 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $147.23, for a total transaction of $47,555.29. Following the transaction, the insider now owns 30,619 shares in the company, valued at $4,508,035.37. The disclosure for this sale can be found here. Insiders have sold 505,505 shares of company stock worth $75,370,304 over the last 90 days. 6.00% of the stock is currently owned by company insiders.
A number of equities analysts have commented on CRM shares. Zacks Investment Research reaffirmed a “hold” rating on shares of salesforce.com in a research note on Monday, November 12th. KeyCorp lifted their target price on shares of salesforce.com from $147.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 30th. UBS Group lifted their target price on shares of salesforce.com from $168.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of salesforce.com in a research note on Thursday, August 30th. Finally, TheStreet downgraded shares of salesforce.com from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Seven investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $166.41.
The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $100.30 billion, a P/E ratio of 268.16, a P/E/G ratio of 4.36 and a beta of 1.38.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRM. Botty Investors LLC acquired a new position in salesforce.com during the 3rd quarter worth approximately $123,000. Psagot Investment House Ltd. acquired a new position in salesforce.com during the 3rd quarter worth approximately $134,000. Resources Investment Advisors Inc. grew its holdings in salesforce.com by 328.2% during the 2nd quarter. Resources Investment Advisors Inc. now owns 1,259 shares of the CRM provider’s stock worth $172,000 after acquiring an additional 965 shares in the last quarter. CWM LLC grew its holdings in salesforce.com by 95.8% during the 2nd quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock worth $180,000 after acquiring an additional 645 shares in the last quarter. Finally, United Capital Management of KS Inc. acquired a new position in salesforce.com during the 3rd quarter worth approximately $193,000. Institutional investors own 83.59% of the company’s stock.
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salesforce.com Company Profile (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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