Insider Selling: salesforce.com, inc. CEO Sells 60,000 Shares of Stock (CRM)
salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff unloaded 60,000 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $58.70, for a total value of $3,522,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
CRM has been the subject of a number of recent research reports. 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 equities research 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 issued a strong buy rating to the company. salesforce.com, inc. currently has a consensus rating of “Buy” and a consensus price target of $66.55.
Shares of salesforce.com, inc. (NYSE:CRM) traded down 0.49% during mid-day trading on Wednesday, hitting $58.91. The stock had a trading volume of 3,621,830 shares. salesforce.com, inc. has a 52-week low of $37.94 and a 52-week high of $67.00. The stock has a 50-day moving average of $54.42 and a 200-day moving average of $56.64. The company’s market cap is $36.171 billion.
salesforce.com, inc. (NYSE:CRM) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. 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.
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