Traders Buy Salesforce.com (CRM) on Weakness Following Insider Selling

Traders bought shares of Salesforce.com (NYSE:CRM) on weakness during trading hours on Friday after an insider sold shares in the company. $344.76 million flowed into the stock on the tick-up and $263.25 million flowed out of the stock on the tick-down, for a money net flow of $81.51 million into the stock. Of all companies tracked, Salesforce.com had the 19th highest net in-flow for the day. Salesforce.com traded down ($3.61) for the day and closed at $114.43Specifically, CAO Joe Allanson sold 321 shares of Salesforce.com stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $113.47, for a total transaction of $36,423.87. Following the completion of the sale, the chief accounting officer now directly owns 30,618 shares in the company, valued at $3,474,224.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan Wojcicki purchased 6,000 shares of the stock in a transaction dated Tuesday, March 13th. The shares were purchased at an average price of $127.82 per share, with a total value of $766,920.00. Following the completion of the acquisition, the director now owns 52,393 shares of the company’s stock, valued at $6,696,873.26. The disclosure for this purchase can be found here. Insiders have sold a total of 291,539 shares of company stock valued at $33,241,059 over the last 90 days. 6.20% of the stock is currently owned by insiders.

A number of brokerages have recently commented on CRM. Barclays lifted their price target on shares of Salesforce.com from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS set a $144.00 price target on shares of Salesforce.com and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, March 8th. Vetr upgraded shares of Salesforce.com from a “sell” rating to a “hold” rating and set a $130.00 price target for the company in a report on Thursday, March 8th. Finally, Morgan Stanley lifted their price target on shares of Salesforce.com from $134.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $123.91.

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $87,903.91, a P/E ratio of 673.16, a PEG ratio of 5.60 and a beta of 1.25.

Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.81 billion. Salesforce.com had a net margin of 1.22% and a return on equity of 3.86%. The business’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. research analysts anticipate that Salesforce.com will post 0.9 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Chemical Bank increased its stake in shares of Salesforce.com by 27.4% in the fourth quarter. Chemical Bank now owns 7,921 shares of the CRM provider’s stock worth $809,000 after buying an additional 1,705 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Salesforce.com by 18.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 16,900 shares of the CRM provider’s stock valued at $1,728,000 after purchasing an additional 2,635 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in Salesforce.com during the fourth quarter valued at $221,000. KCM Investment Advisors LLC increased its stake in Salesforce.com by 3.4% during the fourth quarter. KCM Investment Advisors LLC now owns 20,287 shares of the CRM provider’s stock valued at $2,074,000 after purchasing an additional 658 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in Salesforce.com by 8.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 111,661 shares of the CRM provider’s stock valued at $11,415,000 after purchasing an additional 8,818 shares during the last quarter. Institutional investors and hedge funds own 86.63% of the company’s stock.

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About Salesforce.com

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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