Mark J. Hawkins Sells 8,624 Shares of Salesforce.com Inc. (CRM) Stock
Salesforce.com Inc. (NYSE:CRM) CFO Mark J. Hawkins sold 8,624 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $70.35, for a total value of $606,698.40. Following the sale, the chief financial officer now owns 16,913 shares in the company, valued at approximately $1,189,829.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Salesforce.com Inc. (NYSE:CRM) opened at 71.62 on Thursday. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48. The company has a market cap of $49.06 billion, a price-to-earnings ratio of 221.05 and a beta of 1.57. The firm has a 50-day moving average price of $75.98 and a 200 day moving average price of $77.81.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on CRM shares. Vetr cut Salesforce.com from a “sell” rating to a “strong sell” rating and set a $70.42 price target on the stock. in a report on Thursday, August 25th. Jefferies Group reiterated a “hold” rating and issued a $80.00 price target on shares of Salesforce.com in a report on Friday, August 19th. Bank of America Corp. reiterated a “buy” rating and issued a $77.82 price target (down previously from $100.00) on shares of Salesforce.com in a report on Thursday, August 25th. Macquarie reiterated an “outperform” rating and issued a $97.00 price target on shares of Salesforce.com in a report on Wednesday, August 31st. Finally, Stifel Nicolaus restated a “buy” rating and set a $93.00 target price on shares of Salesforce.com in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and forty-two have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $92.63.
A number of large investors have recently added to or reduced their stakes in CRM. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Salesforce.com during the second quarter valued at approximately $2,042,000. Kentucky Retirement Systems bought a new position in Salesforce.com during the second quarter valued at approximately $4,301,000. KAMES CAPITAL plc bought a new position in Salesforce.com during the second quarter valued at approximately $1,790,000. Northwestern Mutual Investment Management Company LLC increased its position in Salesforce.com by 0.9% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 24,295 shares of the CRM provider’s stock valued at $1,929,000 after buying an additional 216 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new position in Salesforce.com during the second quarter valued at approximately $6,812,000. Institutional investors and hedge funds own 87.23% of the company’s stock.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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