Investors Sell salesforce.com (CRM) on Strength Following Insider Selling
Investors sold shares of salesforce.com, inc. (NYSE:CRM) on strength during trading hours on Monday after an insider sold shares in the company. $161.70 million flowed into the stock on the tick-up and $209.90 million flowed out of the stock on the tick-down, for a money net flow of $48.20 million out of the stock. Of all companies tracked, salesforce.com had the 15th highest net out-flow for the day. salesforce.com traded up $3.26 for the day and closed at $158.78Specifically, Director John Victor Roos sold 176 shares of the company’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $145.80, for a total transaction of $25,660.80. Following the sale, the director now owns 13,217 shares in the company, valued at $1,927,038.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Keith Block sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $134.30, for a total value of $1,343,000.00. Following the sale, the insider now owns 30,647 shares in the company, valued at approximately $4,115,892.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 18,000 shares of company stock valued at $2,701,020 and have sold 573,560 shares valued at $85,094,226. 6.00% of the stock is owned by corporate insiders.
Several analysts recently issued reports on the company. Piper Jaffray Companies reiterated a “buy” rating on shares of salesforce.com in a report on Thursday, August 30th. Wells Fargo & Co reiterated a “buy” rating and set a $175.00 target price (up previously from $155.00) on shares of salesforce.com in a report on Thursday, August 30th. Monness Crespi & Hardt reiterated a “buy” rating and set a $170.00 target price (up previously from $158.00) on shares of salesforce.com in a report on Thursday, August 30th. Canaccord Genuity upped their target price on salesforce.com from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Finally, UBS Group upped their target price on salesforce.com from $168.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Five analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company. salesforce.com currently has an average rating of “Buy” and an average price target of $159.97.
The company has a market capitalization of $117.68 billion, a price-to-earnings ratio of 352.96, a P/E/G ratio of 5.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal London Asset Management Ltd. bought a new position in shares of salesforce.com during the second quarter worth approximately $42,959,000. Northern Trust Corp grew its position in salesforce.com by 1.0% during the second quarter. Northern Trust Corp now owns 9,923,734 shares of the CRM provider’s stock worth $1,353,597,000 after buying an additional 98,077 shares in the last quarter. Strategic Wealth Advisors Group LLC acquired a new stake in salesforce.com during the second quarter worth approximately $1,931,000. HRT Financial LLC acquired a new stake in salesforce.com during the second quarter worth approximately $1,332,000. Finally, Bain Capital Public Equity Management LLC acquired a new stake in salesforce.com during the second quarter worth approximately $8,638,000. Institutional investors own 82.71% of the company’s stock.
About salesforce.com (NYSE:CRM)
salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.
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