Traders Buy Large Volume of Put Options on salesforce.com, inc. (CRM)
Shares of salesforce.com, inc. (NYSE:CRM) saw some unusual options trading on Thursday. Stock traders acquired 17,383 put options on the company, Stock Ratings Network.com reports. This is an increase of approximately 302% compared to the typical volume of 4,320 put options.
In other salesforce.com, inc. news, CEO Marc Benioff unloaded 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $54.78, for a total value of $3,286,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated a “positive” rating on shares of salesforce.com, inc. in a research note on Thursday, June 19th. 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $67.24.
Shares of salesforce.com, inc. (NYSE:CRM) traded up 0.58% during mid-day trading on Thursday, hitting $55.71. The stock had a trading volume of 9,456,881 shares. salesforce.com, inc. has a 1-year low of $42.11 and a 1-year high of $67.00. The stock has a 50-day moving average of $54.49 and a 200-day moving average of $56.10. The company’s market cap is $34.206 billion.
salesforce.com, inc. (NYSE:CRM) last announced its earnings results on Thursday, August 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 37.9% 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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