Insider Selling: salesforce.com inc. Chairman Sells 168,268 Shares of Stock (CRM)
salesforce.com inc. (NYSE:CRM) Chairman Veenendaal Frank Van unloaded 168,268 shares of the stock on the open market in a transaction dated Thursday, September 12th. The stock was sold at an average price of $50.09, for a total transaction of $8,428,544.12. Following the transaction, the chairman now directly owns 17,462 shares of the company’s stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on CRM shares. Analysts at Zacks reiterated a “neutral” rating on shares of salesforce.com inc. (NYSE:CRM) in a research note to investors on Friday, September 6th. They now have a $51.00 price target on the stock. Separately, analysts at Roth Capital raised their price target on shares of salesforce.com inc. (NYSE:CRM) from $52.00 to $54.00 in a research note to investors on Friday, August 30th. They now have a “buy” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of salesforce.com inc. (NYSE:CRM) from $52.50 to $55.00 in a research note to investors on Friday, August 30th. They now have an “outperform” rating on the stock.
One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $105.26.
Shares of salesforce.com inc. (NYSE:CRM) traded up 0.16% on Thursday, hitting $49.96. The stock had a trading volume of 3,839,637 shares. salesforce.com inc. has a 52 week low of $34.76 and a 52 week high of $50.42. The stock has a 50-day moving average of $45.22 and a 200-day moving average of $42.69. The company’s market cap is $29.776 billion.
salesforce.com inc. (NYSE:CRM) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.02. The company had revenue of $957.00 million for the quarter, compared to the consensus estimate of $938.40 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 30.7% on a year-over-year basis. On average, analysts predict that salesforce.com inc. will post $0.34 earnings per share for the current fiscal year.
Salesforce.com, inc., is a provider of enterprise cloud computing and social enterprise solutions. The Company provides a customer and collaboration relationship management (NYSE:CRM), applications through the Internet or cloud.
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