Traders sold shares of Salesforce.com Inc. (NYSE:CRM) on strength during trading hours on Wednesday after an insider sold shares in the company. $81.37 million flowed into the stock on the tick-up and $121.03 million flowed out of the stock on the tick-down, for a money net flow of $39.66 million out of the stock. Of all equities tracked, Salesforce.com had the 0th highest net out-flow for the day. Salesforce.com traded up $1.57 for the day and closed at $71.62Specifically, Chairman Marc Benioff sold 12,500 shares of Salesforce.com stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $70.13, for a total transaction of $876,625.00. Following the sale, the chairman now owns 35,033,000 shares of the company’s stock, valued at approximately $2,456,864,290. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 5,000 shares of Salesforce.com stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $70.13, for a total value of $350,650.00. Following the sale, the insider now directly owns 39,467 shares in the company, valued at approximately $2,767,820.71. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
Several analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a report on Wednesday, June 1st. Brean Capital reissued a “buy” rating on shares of Salesforce.com in a report on Thursday, June 2nd. DA Davidson set a $86.00 price objective on Salesforce.com and gave the stock a “hold” rating in a report on Sunday, September 11th. FBN Securities set a $90.00 price objective on Salesforce.com and gave the stock a “buy” rating in a report on Sunday, September 4th. Finally, SunTrust Banks Inc. boosted their price target on Salesforce.com from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and forty-two have issued a buy rating to the stock. Salesforce.com has a consensus rating of “Buy” and an average target price of $92.63.
The firm’s 50 day moving average is $75.98 and its 200-day moving average is $77.81. The stock has a market cap of $49.06 billion, a P/E ratio of 221.05 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. Salesforce.com’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. On average, analysts forecast that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in Salesforce.com by 78.7% in the first quarter. Acadian Asset Management LLC now owns 5,605 shares of the CRM provider’s stock worth $414,000 after buying an additional 2,469 shares during the period. Commonwealth Equity Services Inc boosted its stake in shares of Salesforce.com by 20.8% in the first quarter. Commonwealth Equity Services Inc now owns 29,853 shares of the CRM provider’s stock worth $2,204,000 after buying an additional 5,144 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of Salesforce.com during the first quarter worth about $6,056,000. Ngam Advisors L.P. boosted its stake in shares of Salesforce.com by 37.2% in the first quarter. Ngam Advisors L.P. now owns 29,442 shares of the CRM provider’s stock worth $2,174,000 after buying an additional 7,986 shares during the last quarter. Finally, Parker Investment Management LLC acquired a new stake in shares of Salesforce.com during the first quarter worth about $594,000. 87.23% of the stock is currently owned by institutional investors.
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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