Salesforce.com Inc (CRM) Insider Sells $67,248.75 in Stock
Salesforce.com Inc (NYSE:CRM) insider Amy E. Weaver sold 681 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $98.75, for a total value of $67,248.75. Following the completion of the sale, the insider now directly owns 1,517 shares of the company’s stock, valued at $149,803.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Salesforce.com Inc (NYSE CRM) traded down 0.47% during midday trading on Monday, reaching $98.44. The company’s stock had a trading volume of 4,024,937 shares. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $99.44. The firm’s market capitalization is $70.75 billion. The stock has a 50 day moving average of $95.67 and a 200 day moving average of $90.50.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.09 by $0.24. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, equities research analysts predict that Salesforce.com Inc will post $1.32 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC raised its holdings in shares of Salesforce.com by 3.2% in the 1st quarter. Teachers Advisors LLC now owns 2,737,108 shares of the CRM provider’s stock worth $225,784,000 after buying an additional 83,898 shares in the last quarter. Global X Management Co. LLC raised its holdings in shares of Salesforce.com by 42.5% in the 1st quarter. Global X Management Co. LLC now owns 3,177 shares of the CRM provider’s stock worth $262,000 after buying an additional 948 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Salesforce.com by 5.8% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,483 shares of the CRM provider’s stock worth $1,195,000 after buying an additional 800 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Salesforce.com by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 43,880,907 shares of the CRM provider’s stock worth $3,619,736,000 after buying an additional 1,956,427 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Salesforce.com in the 1st quarter worth approximately $1,823,000. 86.00% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CRM. Royal Bank Of Canada reissued a “buy” rating and issued a $109.00 price objective on shares of Salesforce.com in a report on Friday. Vetr raised Salesforce.com from a “strong sell” rating to a “sell” rating and set a $90.51 price objective for the company in a report on Friday, October 13th. JMP Securities upgraded Salesforce.com to a “positive” rating in a research note on Friday, October 6th. Cowen and Company restated an “outperform” rating and set a $105.00 price target (up previously from $100.00) on shares of Salesforce.com in a research note on Tuesday, October 3rd. Finally, Robert W. Baird set a $110.00 price target on Salesforce.com and gave the stock a “buy” rating in a research note on Sunday, October 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and forty-five have given a buy rating to the stock. Salesforce.com has an average rating of “Buy” and a consensus price target of $102.75.
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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