Insider Selling: salesforce.com inc. Director Sells 1,600 Shares of Stock (CRM)
salesforce.com inc. (NYSE:CRM) Director Craig Conway sold 1,600 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $60.81, for a total transaction of $97,296.00. Following the transaction, the director now directly owns 14,256 shares in the company, valued at approximately $866,907. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
salesforce.com inc. (NYSE:CRM) traded down 3.40% during mid-day trading on Monday, hitting $58.47. 5,492,353 shares of the company’s stock traded hands. salesforce.com inc. has a 52-week low of $36.09 and a 52-week high of $61.49. The stock’s 50-day moving average is $56.64 and its 200-day moving average is $51.69. The company’s market cap is $35.257 billion.
salesforce.com inc. (NYSE:CRM) last announced its earnings results on Monday, November 18th. The company reported $0.09 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.09. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 36.5% 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.
A number of analysts have recently weighed in on CRM shares. Analysts at Deutsche Bank downgraded shares of salesforce.com inc. from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, January 22nd. They now have a $65.00 price target on the stock, up previously from $60.00. Separately, analysts at FBR Capital Markets raised their price target on shares of salesforce.com inc. from $66.00 to $75.00 in a research note to investors on Wednesday, January 22nd. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of salesforce.com inc. from $65.00 to $70.00 in a research note to investors on Friday, January 17th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $79.57.
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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