Insider Selling: Salesforce.com Inc (CRM) CFO Sells 4,905 Shares of Stock
Salesforce.com Inc (NYSE:CRM) CFO Mark J. Hawkins sold 4,905 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $99.30, for a total transaction of $487,066.50. Following the completion of the transaction, the chief financial officer now directly owns 20,185 shares of the company’s stock, valued at approximately $2,004,370.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Salesforce.com Inc (CRM) traded down 0.47% on Monday, hitting $98.44. The stock had a trading volume of 4,024,937 shares. The stock’s market capitalization is $70.75 billion. The firm has a 50-day moving average price of $95.60 and a 200-day moving average price of $90.32. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $99.44.
Salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.24. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. Equities analysts expect that Salesforce.com Inc will post $1.32 earnings per share for the current fiscal year.
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A number of research analysts recently issued reports on the stock. Vetr lowered shares of Salesforce.com from a “buy” rating to a “hold” rating and set a $93.21 price objective for the company. in a report on Tuesday, August 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price objective on shares of Salesforce.com in a report on Wednesday, August 23rd. Northland Securities reiterated a “buy” rating and issued a $105.00 price objective on shares of Salesforce.com in a report on Wednesday, August 23rd. BTIG Research reiterated a “buy” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Wednesday, August 23rd. Finally, Jefferies Group LLC set a $84.00 price objective on shares of Salesforce.com and gave the company a “hold” rating in a report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and forty-five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $102.75.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors raised its stake in Salesforce.com by 1.4% during the 3rd quarter. Nationwide Fund Advisors now owns 243,771 shares of the CRM provider’s stock valued at $22,773,000 after purchasing an additional 3,345 shares during the period. Schmidt P J Investment Management Inc. raised its stake in Salesforce.com by 81.1% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 9,037 shares of the CRM provider’s stock valued at $844,000 after purchasing an additional 4,047 shares during the period. Personal Capital Advisors Corp raised its stake in Salesforce.com by 10.0% during the 3rd quarter. Personal Capital Advisors Corp now owns 250,621 shares of the CRM provider’s stock valued at $23,413,000 after purchasing an additional 22,869 shares during the period. BB&T Corp raised its stake in Salesforce.com by 2.7% during the 3rd quarter. BB&T Corp now owns 20,218 shares of the CRM provider’s stock valued at $1,888,000 after purchasing an additional 525 shares during the period. Finally, CAPROCK Group Inc. raised its stake in Salesforce.com by 8.7% during the 3rd quarter. CAPROCK Group Inc. now owns 10,018 shares of the CRM provider’s stock valued at $936,000 after purchasing an additional 802 shares during the period. 86.00% of the stock is currently owned by institutional investors.
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.
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