Salesforce.com Inc. (CRM) Insider Sells $42,542.21 in Stock
Salesforce.com Inc. (NYSE:CRM) insider Joe Allanson sold 577 shares of Salesforce.com stock in a transaction on Friday, November 25th. The shares were sold at an average price of $73.73, for a total transaction of $42,542.21. Following the sale, the insider now directly owns 29,353 shares of the company’s stock, valued at approximately $2,164,196.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Joe Allanson also recently made the following trade(s):
- On Wednesday, November 23rd, Joe Allanson sold 657 shares of Salesforce.com stock. The shares were sold at an average price of $74.12, for a total transaction of $48,696.84.
Shares of Salesforce.com Inc. (NYSE:CRM) traded down 1.09% during mid-day trading on Monday, reaching $72.93. 6,436,934 shares of the company’s stock were exchanged. 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 $50.36 billion, a PE ratio of 247.22 and a beta of 1.55. The company’s 50-day moving average price is $74.26 and its 200 day moving average price is $77.55.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, November 17th. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Salesforce.com had a net margin of 2.60% and a return on equity of 2.40%. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. On average, equities research analysts predict that Salesforce.com Inc. will post $0.98 EPS for the current year.
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Several equities research analysts recently issued reports on the stock. Mizuho reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Monday, August 15th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Salesforce.com in a research note on Monday, August 15th. MKM Partners reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Salesforce.com in a research note on Friday, August 5th. Stephens assumed coverage on shares of Salesforce.com in a research note on Tuesday, August 2nd. They issued an “overweight” rating for the company. Finally, Vetr raised shares of Salesforce.com from a “hold” rating to a “buy” rating and set a $83.92 price objective for the company in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and forty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.05.
Several hedge funds and other institutional investors have recently modified their holdings of CRM. ETRADE Capital Management LLC increased its position in shares of Salesforce.com by 20.8% in the third quarter. ETRADE Capital Management LLC now owns 6,565 shares of the CRM provider’s stock worth $468,000 after buying an additional 1,131 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Salesforce.com during the third quarter valued at $9,398,000. Marvin & Palmer Associates Inc. raised its stake in Salesforce.com by 90.8% in the third quarter. Marvin & Palmer Associates Inc. now owns 56,660 shares of the CRM provider’s stock valued at $4,042,000 after buying an additional 26,960 shares in the last quarter. LPL Financial LLC raised its stake in Salesforce.com by 6.2% in the third quarter. LPL Financial LLC now owns 26,626 shares of the CRM provider’s stock valued at $1,934,000 after buying an additional 1,554 shares in the last quarter. Finally, Peloton Wealth Strategists bought a new stake in Salesforce.com during the third quarter valued at $2,040,000. Hedge funds and other institutional investors own 85.24% of the company’s stock.
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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