Salesforce.com Inc. (NYSE:CRM) CFO Mark J. Hawkins sold 8,624 shares of Salesforce.com stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $70.35, for a total value of $606,698.40. Following the sale, the chief financial officer now directly owns 16,913 shares of the company’s stock, valued at approximately $1,189,829.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Salesforce.com Inc. (NYSE:CRM) opened at 71.20 on Friday. Salesforce.com Inc. has a 12 month low of $52.60 and a 12 month high of $84.48. The company has a 50 day moving average price of $75.72 and a 200-day moving average price of $77.77. The firm has a market capitalization of $48.77 billion, a PE ratio of 219.75 and a beta of 1.57.
Salesforce.com (NYSE:CRM) last issued its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities research analysts expect that Salesforce.com Inc. will post $0.95 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its position in shares of Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock worth $107,000 after buying an additional 693 shares in the last quarter. M&R Capital Management Inc. acquired a new stake in shares of Salesforce.com during the second quarter worth about $119,000. Ropes Wealth Advisors LLC raised its stake in shares of Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock worth $143,000 after buying an additional 1,009 shares during the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock worth $149,000 after buying an additional 44 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock worth $154,000 after buying an additional 1,071 shares during the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.
A number of equities research analysts recently commented on the company. Nomura reaffirmed a “buy” rating and set a $90.00 target price on shares of Salesforce.com in a report on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating on shares of Salesforce.com in a report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $107.00 target price on shares of Salesforce.com in a report on Monday. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating in a report on Friday, September 23rd. Finally, DA Davidson set a $86.00 target price on Salesforce.com and gave the stock a “hold” rating in a report on Sunday, September 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and forty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $92.63.
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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