Salesforce.com Inc. (CRM) EVP Cynthia G. Robbins Sells 5,000 Shares of Stock
Salesforce.com Inc. (NYSE:CRM) EVP Cynthia G. Robbins sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $70.34, for a total value of $351,700.00. Following the completion of the sale, the executive vice president now directly owns 1,379 shares in the company, valued at approximately $96,998.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Salesforce.com Inc. (NYSE:CRM) opened at 71.33 on Monday. The firm’s 50 day moving average is $75.43 and its 200-day moving average is $77.76. Salesforce.com Inc. has a 52 week low of $52.60 and a 52 week high of $84.48. The company has a market cap of $48.86 billion, a P/E ratio of 220.15 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the business posted $0.19 EPS. Salesforce.com’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, analysts predict that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. raised its position in shares of Salesforce.com by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 206,019 shares of the CRM provider’s stock worth $16,360,000 after buying an additional 2,648 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Salesforce.com during the second quarter worth about $31,592,000. Soroban Capital Partners LP bought a new position in shares of Salesforce.com during the first quarter worth about $290,380,000. Tybourne Capital Management HK Ltd. bought a new position in shares of Salesforce.com during the first quarter worth about $72,518,000. Finally, Thrax Management LLC raised its position in shares of Salesforce.com by 42.5% in the first quarter. Thrax Management LLC now owns 401,562 shares of the CRM provider’s stock worth $29,647,000 after buying an additional 119,731 shares during the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.
Several equities research analysts recently weighed in on the company. Vetr downgraded Salesforce.com from a “sell” rating to a “strong sell” rating and set a $70.42 price objective on the stock. in a report on Thursday, August 25th. Jefferies Group reissued a “hold” rating and set a $80.00 price objective on shares of Salesforce.com in a report on Friday, August 19th. Barclays PLC reissued an “overweight” rating and set a $89.00 price objective on shares of Salesforce.com in a report on Sunday. Bank of America Corp. reissued a “buy” rating and set a $77.82 price objective (down previously from $100.00) on shares of Salesforce.com in a report on Thursday, August 25th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Salesforce.com in a report on Tuesday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and forty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.63.
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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