Insider Selling: Marc Benioff Unloads 40,000 Shares of salesforce.com, inc. Stock (CRM)
salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff sold 40,000 shares of the stock on the open market in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $54.09, for a total value of $2,163,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
salesforce.com, inc. (NYSE:CRM) traded up 1.28% during mid-day trading on Friday, hitting $54.44. 2,523,225 shares of the company’s stock traded hands. salesforce.com, inc. has a one year low of $42.11 and a one year high of $67.00. The stock has a 50-day moving average of $55.35 and a 200-day moving average of $56.44. The company’s market cap is $33.426 billion. salesforce.com, inc. also was the recipient of unusually large options trading on Tuesday. Stock investors acquired 11,701 call options on the stock. This is an increase of 158% compared to the average volume of 4,539 call options.
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.
A number of research firms have recently commented on CRM. 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $67.00.
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.