Salesforce.com Inc. (CRM) Director Maynard G. Webb, Jr. Sells 15,000 Shares of Stock
Salesforce.com Inc. (NYSE:CRM) Director Maynard G. Webb, Jr. sold 15,000 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $75.00, for a total value of $1,125,000.00. Following the completion of the sale, the director now directly owns 32,832 shares of the company’s stock, valued at $2,462,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Salesforce.com Inc. (NYSE:CRM) opened at 72.23 on Thursday. Salesforce.com Inc. has a 52 week low of $52.60 and a 52 week high of $84.48. The firm’s 50-day moving average price is $73.98 and its 200-day moving average price is $77.72. The company has a market capitalization of $49.48 billion, a price-to-earnings ratio of 222.93 and a beta of 1.59.
Salesforce.com (NYSE:CRM) last posted its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. Salesforce.com’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities analysts expect that Salesforce.com Inc. will post $0.95 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its position in Salesforce.com by 105.5% in the second quarter. Signaturefd LLC now owns 1,350 shares of the CRM provider’s stock worth $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. bought a new position in Salesforce.com during the second quarter valued at $119,000. Ropes Wealth Advisors LLC boosted its position in Salesforce.com by 128.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,796 shares of the CRM provider’s stock valued at $143,000 after buying an additional 1,009 shares during the period. Mycio Wealth Partners LLC boosted its position in Salesforce.com by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,879 shares of the CRM provider’s stock valued at $149,000 after buying an additional 44 shares during the period. Finally, Trust Co. of Vermont boosted its position in Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock valued at $154,000 after buying an additional 1,071 shares during the period. Institutional investors own 87.23% of the company’s stock.
A number of research firms have recently weighed in on CRM. Bank of America Corp. reiterated a “buy” rating and set a $77.82 price target (down from $100.00) on shares of Salesforce.com in a report on Thursday, August 25th. Citigroup Inc. lowered their price target on Salesforce.com from $97.00 to $94.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Jefferies Group restated a “hold” rating and set a $80.00 target price on shares of Salesforce.com in a report on Tuesday, July 12th. Piper Jaffray Cos. restated a “buy” rating and set a $100.00 target price on shares of Salesforce.com in a report on Thursday, September 1st. Finally, Cowen and Company restated an “outperform” rating and set a $100.00 target price on shares of Salesforce.com in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-five have issued a buy rating to the stock. Salesforce.com currently has a consensus rating of “Buy” and an average target price of $92.51.
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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