Salesforce.com (CRM) Vice Chairman Sells $1,200,100.00 in Stock

Salesforce.com (NYSE:CRM) Vice Chairman Keith Block sold 10,000 shares of the company’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $120.01, for a total value of $1,200,100.00. Following the transaction, the insider now directly owns 29,618 shares in the company, valued at $3,554,456.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Keith Block also recently made the following trade(s):

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  • On Friday, February 23rd, Keith Block sold 684 shares of Salesforce.com stock. The shares were sold at an average price of $113.47, for a total value of $77,613.48.

Shares of CRM stock opened at $114.43 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07. Salesforce.com has a 52-week low of $80.50 and a 52-week high of $128.87. The company has a market capitalization of $85,260.30, a P/E ratio of 262.31, a price-to-earnings-growth ratio of 5.47 and a beta of 1.25.

Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Salesforce.com had a return on equity of 3.86% and a net margin of 1.22%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company earned $0.28 EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis. sell-side analysts expect that Salesforce.com will post 0.9 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Cypress Capital Group lifted its position in shares of Salesforce.com by 80.1% in the 3rd quarter. Cypress Capital Group now owns 29,439 shares of the CRM provider’s stock worth $2,750,000 after acquiring an additional 13,090 shares during the period. California Public Employees Retirement System lifted its position in shares of Salesforce.com by 16.3% in the 3rd quarter. California Public Employees Retirement System now owns 1,489,884 shares of the CRM provider’s stock worth $139,185,000 after acquiring an additional 209,184 shares during the period. Waratah Capital Advisors Ltd. bought a new stake in shares of Salesforce.com in the 4th quarter worth approximately $710,000. Fox Run Management L.L.C. lifted its position in shares of Salesforce.com by 86.7% in the 4th quarter. Fox Run Management L.L.C. now owns 5,973 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 2,773 shares during the period. Finally, Alyeska Investment Group L.P. lifted its position in shares of Salesforce.com by 8.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,488,454 shares of the CRM provider’s stock worth $232,471,000 after acquiring an additional 195,112 shares during the period. Institutional investors own 86.63% of the company’s stock.

Several research firms recently weighed in on CRM. SunTrust Banks upped their price target on Salesforce.com to $133.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Jefferies Group raised Salesforce.com from a “hold” rating to a “buy” rating and dropped their target price for the stock from $97.00 to $84.00 in a research report on Thursday, February 15th. Vetr lowered Salesforce.com from a “buy” rating to a “hold” rating and set a $107.78 target price on the stock. in a research report on Monday, December 4th. Citigroup upped their target price on Salesforce.com from $124.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, Canaccord Genuity upped their target price on Salesforce.com from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, March 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and forty-four have issued a buy rating to the company’s stock. Salesforce.com presently has an average rating of “Buy” and a consensus price target of $123.91.

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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.

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

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