Salesforce.com Inc (CRM) Insider Sells $179,196.80 in Stock
Salesforce.com Inc (NYSE:CRM) insider Cynthia G. Robbins sold 1,931 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $92.80, for a total value of $179,196.80. Following the completion of the sale, the insider now owns 230 shares in the company, valued at approximately $21,344. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Salesforce.com Inc (NYSE CRM) opened at 93.42 on Friday. The stock’s 50 day moving average price is $93.14 and its 200-day moving average price is $88.31. The company’s market cap is $67.14 billion. Salesforce.com Inc has a 12-month low of $66.43 and a 12-month high of $98.22.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.24. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Salesforce.com had a negative net margin of 0.85% and a positive return on equity of 1.83%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities research analysts forecast that Salesforce.com Inc will post $1.32 earnings per share for the current year.
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CRM has been the topic of a number of research reports. Royal Bank Of Canada restated a “buy” rating and issued a $102.00 price target on shares of Salesforce.com in a report on Monday, July 31st. Vetr cut Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $97.77 target price on the stock. in a report on Tuesday, July 11th. SunTrust Banks, Inc. started coverage on Salesforce.com in a report on Monday, June 26th. They set a “buy” rating and a $110.00 target price on the stock. Northland Securities set a $105.00 target price on Salesforce.com and gave the company a “buy” rating in a report on Saturday, June 24th. Finally, Zacks Investment Research upgraded Salesforce.com from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $102.52.
Institutional investors have recently modified their holdings of the business. Synovus Financial Corp grew its stake in Salesforce.com by 10.7% during the second quarter. Synovus Financial Corp now owns 22,247 shares of the CRM provider’s stock worth $1,927,000 after buying an additional 2,144 shares during the last quarter. Dai Ichi Life Insurance Company Ltd grew its stake in Salesforce.com by 142.5% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 124,707 shares of the CRM provider’s stock worth $10,800,000 after buying an additional 73,271 shares during the last quarter. Rosenblum Silverman Sutton S F Inc. CA grew its stake in Salesforce.com by 15.6% during the second quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 60,612 shares of the CRM provider’s stock worth $5,249,000 after buying an additional 8,181 shares during the last quarter. Prudential Financial Inc. grew its stake in Salesforce.com by 1.4% during the second quarter. Prudential Financial Inc. now owns 911,249 shares of the CRM provider’s stock worth $78,914,000 after buying an additional 12,516 shares during the last quarter. Finally, Summit Global Investments grew its stake in Salesforce.com by 85.3% during the second quarter. Summit Global Investments now owns 23,394 shares of the CRM provider’s stock worth $2,026,000 after buying an additional 10,768 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other 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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