Craig Conway Sells 250 Shares of Salesforce.com Inc. (CRM) Stock
Salesforce.com Inc. (NYSE:CRM) Director Craig Conway sold 250 shares of Salesforce.com stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $74.24, for a total value of $18,560.00. Following the completion of the sale, the director now directly owns 8,888 shares in the company, valued at $659,845.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Craig Conway also recently made the following trade(s):
- On Monday, October 17th, Craig Conway sold 250 shares of Salesforce.com stock. The stock was sold at an average price of $74.10, for a total value of $18,525.00.
- On Tuesday, September 6th, Craig Conway sold 1,020 shares of Salesforce.com stock. The stock was sold at an average price of $75.10, for a total value of $76,602.00.
Shares of Salesforce.com Inc. (NYSE:CRM) traded up 3.66% during trading on Friday, hitting $77.94. 10,609,433 shares of the company traded hands. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48. The firm has a 50 day moving average price of $73.53 and a 200-day moving average price of $77.50. The stock has a market cap of $53.39 billion, a price-to-earnings ratio of 240.56 and a beta of 1.55.
Salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The business’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. Analysts predict that Salesforce.com Inc. will post $0.95 EPS for the current year.
CRM has been the topic of several analyst reports. Morgan Stanley reduced their price objective on Salesforce.com from $110.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Stephens initiated coverage on Salesforce.com in a research note on Tuesday, August 2nd. They set an “overweight” rating on the stock. MKM Partners reaffirmed a “buy” rating and set a $96.00 target price on shares of Salesforce.com in a research note on Friday, August 5th. Vetr raised Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 target price on the stock in a research note on Wednesday, August 10th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research note on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $92.04.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased 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 valued at $107,000 after buying an additional 693 shares during the period. M&R Capital Management Inc. purchased a new position in Salesforce.com during the second quarter valued at $119,000. NEXT Financial Group Inc increased its position in Salesforce.com by 2.3% in the third quarter. NEXT Financial Group Inc now owns 1,754 shares of the CRM provider’s stock valued at $125,000 after buying an additional 39 shares during the period. Ropes Wealth Advisors LLC increased 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. Finally, Mycio Wealth Partners LLC increased 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. 86.97% of the stock is currently owned by institutional investors and hedge funds.
Salesforce.com Company Profile
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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