Salesforce.com Inc. (CRM) EVP Amy E. Weaver Sells 9,381 Shares of Stock
Salesforce.com Inc. (NYSE:CRM) EVP Amy E. Weaver sold 9,381 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $71.08, for a total transaction of $666,801.48. Following the sale, the executive vice president now owns 23,261 shares of the company’s stock, valued at $1,653,391.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Salesforce.com Inc. (NYSE:CRM) opened at 68.42 on Thursday. The firm has a market capitalization of $46.87 billion, a price-to-earnings ratio of 211.17 and a beta of 1.59. Salesforce.com Inc. has a 12-month low of $52.60 and a 12-month high of $84.48. The firm has a 50-day moving average of $74.66 and a 200 day moving average of $77.76.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the 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 company earned $2.04 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities analysts predict that Salesforce.com Inc. will post $0.95 EPS for the current year.
Several institutional investors have recently made changes to their positions in CRM. Cullen Frost Bankers Inc. increased 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 valued at $16,360,000 after buying an additional 2,648 shares during the period. Bank of Montreal Can purchased a new position in shares of Salesforce.com during the second quarter valued at about $31,592,000. Soroban Capital Partners LP purchased a new position in shares of Salesforce.com during the first quarter valued at about $290,380,000. Tybourne Capital Management HK Ltd. purchased a new position in shares of Salesforce.com during the first quarter valued at about $72,518,000. Finally, Thrax Management LLC increased 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 valued at $29,647,000 after buying an additional 119,731 shares during the period. 87.23% of the stock is owned by institutional investors.
A number of brokerages have weighed in on CRM. Bank of America Corp. reiterated a “buy” rating and set a $77.82 target price (down from $100.00) on shares of Salesforce.com in a research note on Thursday, August 25th. Jefferies Group reissued a “hold” rating and set a $80.00 price objective on shares of Salesforce.com in a research report on Tuesday, July 12th. Citigroup Inc. cut their price objective on shares of Salesforce.com from $97.00 to $94.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Piper Jaffray Cos. reissued a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Thursday, September 1st. Finally, Cowen and Company reissued an “outperform” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $92.56.
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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