salesforce.com, inc. (CRM) General Counsel Sells $76,923.54 in Stock

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salesforce.com, inc. (NYSE:CRM) General Counsel Amy E. Weaver sold 501 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $153.54, for a total value of $76,923.54. Following the completion of the sale, the general counsel now directly owns 26,396 shares in the company, valued at approximately $4,052,841.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE:CRM traded down $3.93 during trading on Thursday, hitting $153.71. The company’s stock had a trading volume of 4,332,319 shares, compared to its average volume of 4,538,486. The company has a market cap of $120.07 billion, a price-to-earnings ratio of 106.01, a price-to-earnings-growth ratio of 5.75 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.20. salesforce.com, inc. has a fifty-two week low of $113.60 and a fifty-two week high of $167.56.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.14. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts expect that salesforce.com, inc. will post 1.18 EPS for the current year.

A number of brokerages have issued reports on CRM. Zacks Investment Research lowered salesforce.com from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Bank of America reissued a “buy” rating and issued a $200.00 target price on shares of salesforce.com in a research report on Monday. JPMorgan Chase & Co. reissued a “buy” rating and issued a $180.00 target price on shares of salesforce.com in a research report on Wednesday, April 17th. Robert W. Baird boosted their target price on salesforce.com from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Finally, Mizuho began coverage on salesforce.com in a research report on Wednesday, March 13th. They issued a “buy” rating and a $185.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. salesforce.com presently has an average rating of “Buy” and a consensus price target of $177.82.

Several hedge funds have recently modified their holdings of CRM. Oregon Public Employees Retirement Fund grew its stake in shares of salesforce.com by 29,364.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock worth $159,000 after purchasing an additional 21,642,889 shares in the last quarter. Norges Bank acquired a new position in shares of salesforce.com during the fourth quarter worth $938,778,000. Lunia Capital LP acquired a new position in shares of salesforce.com during the fourth quarter worth $5,811,000. BlackRock Inc. grew its stake in shares of salesforce.com by 9.2% during the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock worth $7,022,474,000 after purchasing an additional 4,321,630 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of salesforce.com by 18.3% during the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock worth $2,694,432,000 after purchasing an additional 3,041,293 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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salesforce.com Company Profile

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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