Investors purchased shares of Salesforce.com Inc. (NYSE:CRM) on weakness during trading on Monday following insider selling activity. $128.97 million flowed into the stock on the tick-up and $97.84 million flowed out of the stock on the tick-down, for a money net flow of $31.13 million into the stock. Of all equities tracked, Salesforce.com had the 16th highest net in-flow for the day. Salesforce.com traded down ($1.44) for the day and closed at $72.83Specifically, Chairman Marc Benioff sold 12,500 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $82.06, for a total transaction of $1,025,750.00. Following the transaction, the chairman now directly owns 35,383,000 shares of the company’s stock, valued at $2,903,528,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Hawkins sold 8,624 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $81.80, for a total value of $705,443.20. Following the transaction, the chief financial officer now directly owns 16,029 shares in the company, valued at $1,311,172.20. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
CRM has been the topic of a number of research analyst reports. Bank of America Corp. reissued a “buy” rating and set a $70.52 price target (down from $100.00) on shares of Salesforce.com in a report on Wednesday, October 5th. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating in a research note on Friday, September 23rd. Morgan Stanley decreased their target price on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Monday, August 15th. Finally, Mizuho raised their target price on Salesforce.com from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-six have given a buy rating to the company. Salesforce.com currently has an average rating of “Buy” and a consensus target price of $92.19.
The stock has a market cap of $49.85 billion, a PE ratio of 224.60 and a beta of 1.59. The stock has a 50 day moving average price of $73.19 and a 200 day moving average price of $77.72.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts anticipate 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 CRM. MAI Capital Management increased its position in shares of Salesforce.com by 6.1% in the third quarter. MAI Capital Management now owns 10,813 shares of the CRM provider’s stock worth $771,000 after buying an additional 622 shares in the last quarter. Chesley Taft & Associates LLC boosted its stake in Salesforce.com by 2.9% in the third quarter. Chesley Taft & Associates LLC now owns 68,869 shares of the CRM provider’s stock worth $4,912,000 after buying an additional 1,920 shares during the last quarter. Webster Bank N. A. boosted its stake in Salesforce.com by 5.6% in the third quarter. Webster Bank N. A. now owns 29,102 shares of the CRM provider’s stock worth $2,076,000 after buying an additional 1,555 shares during the last quarter. National Pension Service boosted its stake in Salesforce.com by 8.8% in the third quarter. National Pension Service now owns 416,529 shares of the CRM provider’s stock worth $29,711,000 after buying an additional 33,571 shares during the last quarter. Finally, Private Bank & Trust Co. boosted its stake in Salesforce.com by 15.8% in the third quarter. Private Bank & Trust Co. now owns 2,934 shares of the CRM provider’s stock worth $209,000 after buying an additional 400 shares during the last quarter. Institutional investors own 87.03% 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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