Insider Selling: Marc Benioff Sells 60,000 Shares of salesforce.com, inc. Stock (CRM)
salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff sold 60,000 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $57.30, for a total value of $3,438,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on CRM shares. Analysts at Morgan Stanley reiterated a “positive” rating on shares of salesforce.com, inc. in a research note on Thursday, June 19th. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of salesforce.com, inc. in a research note on Thursday, May 29th. They now have a $75.00 price target on the stock, down previously from $80.00. Finally, analysts at Pivotal Research reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Thursday, May 22nd. They now have a $73.00 price target on the stock, down previously from $74.00. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.55.
salesforce.com, inc. (NYSE:CRM) traded up 0.37% during mid-day trading on Friday, hitting $57.38. 3,288,086 shares of the company’s stock traded hands. salesforce.com, inc. has a 52 week low of $37.73 and a 52 week high of $67.00. The stock has a 50-day moving average of $53.85 and a 200-day moving average of $56.46. The company’s market cap is $35.231 billion.
salesforce.com, inc. (NYSE:CRM) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.10 by $0.01. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $0.10 earnings per share. salesforce.com, inc.’s revenue was up 37.7% compared to the same quarter last year. Analysts expect that salesforce.com, inc. will post $0.51 EPS 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.