Insider Selling: Marc Benioff Sells 60,000 Shares of salesforce.com, inc. Stock (CRM)
salesforce.com, inc. (NYSE:CRM) CEO Marc Benioff sold 60,000 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $59.35, for a total transaction of $3,561,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of salesforce.com, inc. (NYSE:CRM) traded down 0.10% during mid-day trading on Wednesday, hitting $59.58. 5,355,070 shares of the company’s stock traded hands. salesforce.com, inc. has a 52-week low of $42.11 and a 52-week high of $67.00. The stock’s 50-day moving average is $54.76 and its 200-day moving average is $56.02. The company’s market cap is $36.762 billion.
salesforce.com, inc. (NYSE:CRM) last released its earnings data 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.
A number of analysts have recently weighed in on CRM shares. 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, August 22nd. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus 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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