Insider Selling: salesforce.com, inc. EVP Unloads 5,915 Shares of Stock (CRM)
salesforce.com, inc. (NYSE:CRM) EVP Burke F. Norton sold 5,915 shares of the stock on the open market in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $59.35, for a total value of $351,055.25. Following the completion of the transaction, the executive vice president now directly owns 69,318 shares of the company’s stock, valued at approximately $4,114,023. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of salesforce.com, inc. (NYSE:CRM) traded up 0.69% during mid-day trading on Tuesday, hitting $59.64. The stock had a trading volume of 5,764,150 shares. 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 $54.63 and a 200-day moving average of $56.00. The company’s market cap is $36.799 billion.
salesforce.com, inc. (NYSE:CRM) last posted its quarterly 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.
CRM has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of salesforce.com, inc. in a research note on Monday. They now have a $63.00 price target on the stock. Separately, analysts at Argus reiterated a “buy” rating on shares of salesforce.com, inc. in a research note on Monday. They now have a $71.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of salesforce.com, inc. from $65.00 to $70.00 in a research note on Friday. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $67.47.
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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