Parker Harris Sells 5,000 Shares of Salesforce.com Inc. (CRM) Stock

Salesforce.com Inc. (NYSE:CRM) insider Parker Harris sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $72.45, for a total transaction of $362,250.00. Following the sale, the insider now directly owns 39,467 shares of the company’s stock, valued at $2,859,384.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Parker Harris also recently made the following trade(s):

  • On Tuesday, October 4th, Parker Harris sold 5,000 shares of Salesforce.com stock. The shares were sold at an average price of $71.29, for a total transaction of $356,450.00.
  • On Tuesday, September 27th, Parker Harris sold 5,000 shares of Salesforce.com stock. The shares were sold at an average price of $70.13, for a total transaction of $350,650.00.
  • On Tuesday, September 20th, Parker Harris sold 5,000 shares of Salesforce.com stock. The shares were sold at an average price of $73.08, for a total transaction of $365,400.00.
  • On Tuesday, September 13th, Parker Harris sold 5,000 shares of Salesforce.com stock. The shares were sold at an average price of $73.21, for a total transaction of $366,050.00.
  • On Tuesday, September 6th, Parker Harris sold 5,000 shares of Salesforce.com stock. The shares were sold at an average price of $75.26, for a total transaction of $376,300.00.
  • On Tuesday, August 30th, Parker Harris sold 5,000 shares of Salesforce.com stock. The shares were sold at an average price of $79.68, for a total transaction of $398,400.00.
  • On Tuesday, August 23rd, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $78.01, for a total transaction of $390,050.00.
  • On Tuesday, August 16th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00.
  • On Tuesday, August 9th, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $81.31, for a total transaction of $406,550.00.
  • On Tuesday, August 2nd, Parker Harris sold 5,000 shares of Salesforce.com stock. The stock was sold at an average price of $80.19, for a total transaction of $400,950.00.

Shares of Salesforce.com Inc. (NYSE:CRM) opened at 70.63 on Friday. The firm has a market capitalization of $48.38 billion, a price-to-earnings ratio of 217.99 and a beta of 1.59. The stock’s 50 day moving average price is $73.77 and its 200 day moving average price is $77.67. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48.

Salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 2.19% and a net margin of 2.91%. Salesforce.com’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Equities research analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current year.

Insider Buying and Selling by Quarter for Salesforce.com (NYSE:CRM)

A number of research firms have recently issued reports on CRM. Morgan Stanley reduced their price target on shares of Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Cowen and Company began coverage on shares of Salesforce.com in a research report on Friday, June 24th. They issued an “outperform” rating and a $79.39 price target for the company. Jefferies Group reissued a “hold” rating and issued a $80.00 price target on shares of Salesforce.com in a research report on Tuesday, July 12th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, August 15th. Finally, Mizuho reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $92.51.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its stake 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 during the period. M&R Capital Management Inc. acquired a new stake in shares of Salesforce.com during the second quarter worth approximately $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 period. 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 period. 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 period. 87.23% of the stock is currently 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.

5 Day Chart for NYSE:CRM

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