Traders sold shares of Salesforce.com Inc. (NYSE:CRM) on strength during trading hours on Friday after an insider sold shares in the company. $410.45 million flowed into the stock on the tick-up and $457.45 million flowed out of the stock on the tick-down, for a money net flow of $47.00 million out of the stock. Of all stocks tracked, Salesforce.com had the 18th highest net out-flow for the day. Salesforce.com traded up $3.64 for the day and closed at $74.27Specifically, Director Craig Conway sold 400 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $79.33, for a total value of $31,732.00. Following the sale, the director now directly owns 8,868 shares in the company, valued at $703,498.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexandre Dayon sold 2,158 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $73.82, for a total value of $159,303.56. Following the completion of the sale, the insider now owns 17,454 shares in the company, valued at $1,288,454.28. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
CRM has been the topic of several recent analyst reports. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 target price on the stock in a report on Wednesday, August 10th. MKM Partners reissued a “buy” rating and issued a $96.00 target price on shares of Salesforce.com in a report on Friday, August 5th. Morgan Stanley reissued a “buy” rating on shares of Salesforce.com in a report on Tuesday, June 28th. Credit Suisse Group AG reissued a “buy” rating on shares of Salesforce.com in a report on Tuesday, June 28th. Finally, Brean Capital reissued a “buy” rating and issued a $110.00 target price on shares of Salesforce.com in a report on Saturday, June 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and forty-five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $92.51.
The company’s 50 day moving average is $73.77 and its 200-day moving average is $77.67. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 229.23 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data 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 earned $2.04 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. On average, equities research analysts predict that Salesforce.com Inc. will post $0.95 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Soroban Capital Partners LP acquired a new position in Salesforce.com during the first quarter worth approximately $290,380,000. Vanguard Group Inc. boosted its stake in shares of Salesforce.com by 3.1% in the second quarter. Vanguard Group Inc. now owns 39,426,135 shares of the CRM provider’s stock worth $3,130,829,000 after buying an additional 1,181,756 shares during the period. American Century Companies Inc. boosted its stake in shares of Salesforce.com by 54.4% in the second quarter. American Century Companies Inc. now owns 3,297,549 shares of the CRM provider’s stock worth $261,858,000 after buying an additional 1,161,596 shares during the period. Waddell & Reed Financial Inc. boosted its stake in shares of Salesforce.com by 489.5% in the second quarter. Waddell & Reed Financial Inc. now owns 1,384,048 shares of the CRM provider’s stock worth $109,908,000 after buying an additional 1,149,275 shares during the period. Finally, Tybourne Capital Management HK Ltd. purchased a new stake in shares of Salesforce.com during the first quarter worth about $72,518,000. 87.23% of the stock is owned by institutional investors.
Salesforce.com Company Profile
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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