Insider Selling: salesforce.com, inc. CEO Unloads 20,000 Shares of Stock (CRM)
salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff sold 20,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 7th. The shares were sold at an average price of $54.01, for a total transaction of $1,080,200.00. The sale was disclosed in a legal filing with the SEC, which is available at 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. salesforce.com, inc. currently has an average rating of “Buy” and a consensus price target of $67.00.
Shares of salesforce.com, inc. (NYSE:CRM) traded up 1.28% during mid-day trading on Friday, hitting $54.44. The stock had a trading volume of 2,523,225 shares. salesforce.com, inc. has a 52 week low of $42.11 and a 52 week 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. (NYSE:CRM) last posted its quarterly earnings results 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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