Salesforce.com Inc. (NYSE:CRM) EVP Burke F. Norton sold 1,971 shares of Salesforce.com stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $74.12, for a total value of $146,090.52. Following the transaction, the executive vice president now owns 77,627 shares of the company’s stock, valued at approximately $5,753,713.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Salesforce.com Inc. (NYSE:CRM) opened at 73.95 on Friday. The stock’s 50 day moving average is $74.03 and its 200 day moving average is $77.55. The stock has a market cap of $51.06 billion, a PE ratio of 250.68 and a beta of 1.55. Salesforce.com Inc. has a 52-week low of $52.60 and a 52-week high of $84.48.

Salesforce.com (NYSE:CRM) last announced its earnings results on Thursday, November 17th. The CRM provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. Salesforce.com had a net margin of 2.60% and a return on equity of 2.40%. The business earned $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was up 25.3% on a year-over-year basis. Equities research analysts forecast that Salesforce.com Inc. will post $0.98 earnings per share for the current year.

Insider Buying and Selling by Quarter for Salesforce.com (NYSE:CRM)

A number of hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. boosted its stake 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 in the last quarter. Bank of Montreal Can acquired a new stake in shares of Salesforce.com during the second quarter worth approximately $31,592,000. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Salesforce.com by 1.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,009,351 shares of the CRM provider’s stock worth $80,153,000 after buying an additional 10,367 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Salesforce.com by 17.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,096,940 shares of the CRM provider’s stock worth $87,108,000 after buying an additional 165,000 shares in the last quarter. Finally, Columbus Circle Investors acquired a new stake in shares of Salesforce.com during the second quarter worth approximately $58,994,000. 87.22% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on CRM. Bank of America Corp. restated a “buy” rating and set a $77.82 price objective (down from $100.00) on shares of Salesforce.com in a research report on Thursday, August 25th. Piper Jaffray Cos. restated a “buy” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Thursday, September 1st. Cowen and Company restated an “outperform” rating and set a $100.00 price objective on shares of Salesforce.com in a research report on Wednesday, October 12th. DA Davidson cut their price objective on shares of Salesforce.com from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $96.00 price target on shares of Salesforce.com in a research report on Wednesday, October 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and forty-two have issued a buy rating to the company’s stock. Salesforce.com presently has a consensus rating of “Buy” and an average target price of $92.05.

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About Salesforce.com

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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