Insider Selling: Salesforce.com Inc (CRM) CFO Sells 992 Shares of Stock
Salesforce.com Inc (NYSE:CRM) CFO Mark J. Hawkins sold 992 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $93.38, for a total value of $92,632.96. Following the transaction, the chief financial officer now directly owns 16,272 shares in the company, valued at approximately $1,519,479.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Salesforce.com Inc (CRM) traded down 0.47% on Monday, hitting $93.66. 5,536,074 shares of the stock traded hands. The firm’s market capitalization is $67.31 billion. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $95.23. The firm’s 50 day moving average is $90.44 and its 200 day moving average is $86.60.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.24. The firm 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 company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, analysts expect that Salesforce.com Inc will post $1.31 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in CRM. Capital Analysts LLC increased its position in shares of Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after buying an additional 156 shares during the last quarter. Peddock Capital Advisors LLC increased its position in shares of Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after buying an additional 1,350 shares during the last quarter. People s United Financial Inc. increased its position in shares of Salesforce.com by 60.1% in the second quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock worth $127,000 after buying an additional 550 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Salesforce.com during the second quarter worth about $130,000. Finally, First Personal Financial Services increased its position in shares of Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after buying an additional 112 shares during the last quarter. 86.98% of the stock is currently owned by hedge funds and other institutional investors.
CRM has been the topic of a number of research reports. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating and set a $95.22 price target on the stock in a report on Monday, May 15th. Zacks Investment Research lowered Salesforce.com from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Royal Bank Of Canada reissued a “buy” rating and set a $102.00 price target on shares of Salesforce.com in a report on Monday, July 31st. Wells Fargo & Company reissued a “buy” rating and set a $100.00 price target on shares of Salesforce.com in a report on Thursday. Finally, Societe Generale set a $110.00 price target on Salesforce.com and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-five have given a buy rating to the stock. Salesforce.com currently has an average rating of “Buy” and an average price target of $101.72.
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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