Salesforce.com Inc. (NYSE:CRM) EVP Amy E. Weaver sold 9,381 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $71.08, for a total transaction of $666,801.48. Following the transaction, the executive vice president now directly owns 23,261 shares of the company’s stock, valued at approximately $1,653,391.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Salesforce.com Inc. (NYSE:CRM) opened at 68.42 on Thursday. The company has a market capitalization of $46.87 billion, a P/E ratio of 211.17 and a beta of 1.59. The firm has a 50-day moving average price of $74.66 and a 200-day moving average price of $77.76. Salesforce.com Inc. has a 1-year low of $52.60 and a 1-year high of $84.48.
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 the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. On average, analysts forecast that Salesforce.com Inc. will post $0.95 EPS for the current fiscal year.
Several equities research analysts recently weighed in on CRM shares. JMP Securities reaffirmed a “buy” rating on shares of Salesforce.com in a report on Tuesday. Vetr cut shares of Salesforce.com from a “sell” rating to a “strong sell” rating and set a $70.42 price target on the stock. in a research report on Thursday, August 25th. Barclays PLC reiterated an “overweight” rating and issued a $89.00 price target on shares of Salesforce.com in a research report on Sunday. Jefferies Group reiterated a “hold” rating and issued a $80.00 price target on shares of Salesforce.com in a research report on Thursday, September 1st. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $77.82 price target (down from $100.00) on shares of Salesforce.com in a research report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and forty-four have assigned a buy rating to the stock. Salesforce.com presently has an average rating of “Buy” and an average price target of $92.56.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New England Research & Management Inc. bought a new position in Salesforce.com during the third quarter valued at approximately $449,000. Boltwood Capital Management increased its position in Salesforce.com by 4.2% in the third quarter. Boltwood Capital Management now owns 11,345 shares of the CRM provider’s stock valued at $809,000 after buying an additional 460 shares in the last quarter. Fulton Bank N.A. increased its position in Salesforce.com by 44.0% in the third quarter. Fulton Bank N.A. now owns 18,383 shares of the CRM provider’s stock valued at $1,311,000 after buying an additional 5,620 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Salesforce.com by 4.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,330,380 shares of the CRM provider’s stock valued at $237,556,000 after buying an additional 139,700 shares in the last quarter. Finally, Cullinan Associates Inc. increased its position in Salesforce.com by 0.4% in the third quarter. Cullinan Associates Inc. now owns 25,790 shares of the CRM provider’s stock valued at $1,840,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.
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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