Salesforce.com Inc. (CRM) Director Sells $1,125,000.00 in Stock
Salesforce.com Inc. (NYSE:CRM) Director Maynard G. Webb, Jr. sold 15,000 shares of the firm’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $75.00, for a total transaction of $1,125,000.00. Following the transaction, the director now directly owns 32,832 shares of the company’s stock, valued at $2,462,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Salesforce.com Inc. (NYSE:CRM) opened at 72.42 on Wednesday. The firm’s 50-day moving average is $74.14 and its 200-day moving average is $77.76. The firm has a market cap of $49.61 billion, a PE ratio of 223.52 and a beta of 1.59. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The company earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of CRM. Cullen Frost Bankers Inc. boosted its stake in shares of Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock worth $16,360,000 after buying an additional 2,648 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Salesforce.com during the second quarter worth about $31,592,000. Soroban Capital Partners LP purchased a new stake in shares of Salesforce.com during the first quarter worth about $290,380,000. Tybourne Capital Management HK Ltd. purchased a new stake in shares of Salesforce.com during the first quarter worth about $72,518,000. Finally, Thrax Management LLC boosted its stake in shares of Salesforce.com by 42.5% in the first quarter. Thrax Management LLC now owns 401,562 shares of the CRM provider’s stock worth $29,647,000 after buying an additional 119,731 shares during the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.
A number of equities analysts have commented on the stock. DA Davidson set a $86.00 price objective on shares of Salesforce.com and gave the stock a “hold” rating in a research note on Sunday, September 11th. FBN Securities set a $90.00 price target on shares of Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, September 4th. Raymond James Financial Inc. set a $105.00 price target on shares of Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, September 4th. Morgan Stanley reaffirmed a “buy” rating on shares of Salesforce.com in a research note on Tuesday, June 28th. Finally, Citigroup Inc. dropped their price target on shares of Salesforce.com from $97.00 to $94.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $92.56.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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