Traders Buy High Volume of Salesforce.com Call Options (CRM)
Salesforce.com Inc (NYSE:CRM) was the recipient of unusually large options trading activity on Monday. Traders bought 11,294 call options on the stock. This represents an increase of approximately 150% compared to the typical volume of 4,516 call options.
Shares of Salesforce.com (NYSE:CRM) opened at 92.24 on Thursday. The firm’s 50-day moving average is $89.44 and its 200-day moving average is $85.99. The firm has a market cap of $65.69 billion, a PE ratio of 488.04 and a beta of 1.29. Salesforce.com has a 12-month low of $66.43 and a 12-month high of $92.40.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Equities analysts expect that Salesforce.com will post $1.30 earnings per share for the current fiscal year.
In other Salesforce.com news, insider Joe Allanson sold 309 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $88.55, for a total transaction of $27,361.95. Following the transaction, the insider now owns 28,944 shares in the company, valued at approximately $2,562,991.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Marc Benioff sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $88.23, for a total transaction of $882,300.00. Following the transaction, the chairman now owns 34,195,300 shares in the company, valued at approximately $3,017,051,319. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,343,192 shares of company stock valued at $120,824,107. 6.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC purchased a new stake in Salesforce.com during the first quarter valued at about $1,384,000. Capital Impact Advisors LLC raised its stake in Salesforce.com by 55.1% in the first quarter. Capital Impact Advisors LLC now owns 29,266 shares of the CRM provider’s stock valued at $2,414,000 after buying an additional 10,395 shares in the last quarter. Bank of The West raised its stake in Salesforce.com by 4.8% in the first quarter. Bank of The West now owns 71,412 shares of the CRM provider’s stock valued at $5,891,000 after buying an additional 3,297 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in Salesforce.com by 8.2% in the first quarter. Gateway Investment Advisers LLC now owns 125,280 shares of the CRM provider’s stock valued at $10,334,000 after buying an additional 9,465 shares in the last quarter. Finally, First Financial Corp IN raised its stake in Salesforce.com by 3.2% in the first quarter. First Financial Corp IN now owns 4,727 shares of the CRM provider’s stock valued at $390,000 after buying an additional 146 shares in the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. Vetr downgraded shares of Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price objective on the stock. in a report on Tuesday. Northland Securities set a $105.00 price objective on shares of Salesforce.com and gave the company a “buy” rating in a report on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Salesforce.com in a report on Monday, July 31st. BidaskClub downgraded shares of Salesforce.com from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Salesforce.com in a report on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $97.31.
Salesforce.com Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
Receive News & Ratings for Salesforce.com Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce.com Inc and related companies with MarketBeat.com's FREE daily email newsletter.